UNCTAD confident Thailand's economy will grow at least 5 percent next year

[webfact]

Mr Supachai is confident Thailand’s economy will grow at least 5 percent next year



BANGKOK: -- Thailand’s economic growth rate next year is expected to register more than five percent due to investment of the government sector, said UNCTAD secretary-general Supachai Panichpakdi on Wednesday during his speech on the occasion of the 94th anniversary of the founding of Commerce Ministry.

For this year however he said that the GDP would slight expand as forecasted because government’s investment only started in the third quarter which is rather late whereas private sector investment remains stable with limited export growth.

He pointed that there are four key areas that the new government must quickly address in order that the Thai economy will grow on sustainable basis. They are human resources development through improvement of educational system which includes upgrading of the standard of vocational education; development of infrastructure so that Thailand can become Asean’s economic hub; and accelerated effort by Asean to enter into economic partnership treaty with six trading partners namely China, India, Japan, South Korea, Australia and New Zealand.

Mr Supachai praised the Commerce Ministry for having done its best to increase exports but the slowdown of global economy especially the slow recovery of the economy of the United States, Japan and European Union has dampened demand for imports from Thailand.

He warned that trading in the world market would become more restrictive in the future due to increased regulations and trade restrictions. He cited, for an instance, the case of the United States which often professes free trade and also urges other countries to practice free trade and the, out of a sudden, the US President called on Americans to buy American-made products.

Source: http://englishnews.thaipbs.or.th/mr-supachai-confident-thailands-economy-will-grow-least-5-percent-next-year/


-- Thai PBS 2014-08-21

[ChrisY1]

5% ???..........not many countries in the world showing that growth rate.....

Why all these wild forecasts all the time ?? Who are they trying to fool.....it's only themselves as far as I can see.

[kalbo123]

this year growth between 0.5-1% ( I read different numbers everyday)

next year 5%!!, A 500% increase... Sure..

[NongKhaiKid]

Buoyed no doubt by TAT's ' tourists flocking ' predictions.

Well who wouldn't want to come here and pay 2.5 times more than a Thai to hire a motor boat at a floating market ?

[ramrod711]

What the he** is an UNCTAD? Sounds like a new species, possibly located in the Galapagos.

[AGareth2]

isn't that what they said last year?

[alant]

I love this country but please please you can't moan about restrictive trade practices from the west

"He warned that trading in the world market would become more restrictive in the future due to increased regulations and trade restrictions. He cited, for an instance, the case of the United States which often professes free trade and also urges other countries to practice free trade and the, out of a sudden, the US President called on Americans to buy American-made products."

A government of the people, for the people etc would not tax some imports to the level that only its rich citizens could afford them

[Sena Dave]

"Thailand can become Asean’s economic hub" . Yes I can see Hong Kong , Singapore and China quaking in their boots

[shirtless]

I am sure the figures will change many times before next year.

[Sena Dave]

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"Thailand can become Asean’s economic hub" . Yes I can see Hong Kong , Singapore and China quaking in their boots

Ok I thought it aid Asian not ASEAN , anyway I doubt Singapore have much to worry about

[Ricardo]

What the he** is an UNCTAD? Sounds like a new species, possibly located in the Galapagos.

United Nations Conference on Trade and Development (UNCTAD)

http://unctad.org/en/Pages/Home.aspx

http://en.wikipedia.org/wiki/United_Nations_Conference_on_Trade_and_Development

[Sena Dave]

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What the he** is an UNCTAD? Sounds like a new species, possibly located in the Galapagos.

Could be an Anagram ?

[dinger]

With all of these great predictions that we see every day, with numbers coming out of thin air, at least one of these guys should have the winning lotto numbers

[godden]

Now just waiting for TAT to issue their fairy story.

[Sena Dave]

They must all be massively confident about the economy Hence the somewhat irresponsibly high interest rate of 2.8% being offered to me if I lock down a shed load of Money for a year

[rickirs]

In July 2014 the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB-composed of members from the Federation of Thai Industries, the Thai Chamber of Commerce, and the Thai Bankers Association) predicted that the economy will grow 4.2% just during the second half of 2014 or over 8% on an annualized basis. So UNCTAD is actually predicting a downturn in economic growth next year or the JSCCIB projection was unreasonably high.

[pmugghc]

"Thailand can become Asean’s economic hub" . Yes I can see Hong Kong , Singapore and China quaking in their boots

Hong Kong and China are not part of ASEAN.

[Sena Dave]

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"Thailand can become Asean’s economic hub" . Yes I can see Hong Kong , Singapore and China quaking in their boots

Hong Kong and China are not part of ASEAN.

Should have kept reading mate

Posted Today, 09:32

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Sena Dave, on 21 Aug 2014 - 09:29, said:

"Thailand can become Asean’s economic hub" . Yes I can see Hong Kong , Singapore and China quaking in their boots

Ok I thought it aid Asian not ASEAN , anyway I doubt Singapore have much to worry about

[dinger]

In July 2014 the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB-composed of members from the Federation of Thai Industries, the Thai Chamber of Commerce, and the Thai Bankers Association) predicted that the economy will grow 4.2% just during the second half of 2014 or over 8% on an annualized basis. So UNCTAD is actually predicting a downturn in economic growth next year or the JSCCIB projection was unreasonably high.

I guess then the headline should read UNCTAD down grades previous economic predictions. But that headline wouldn't sit to well

[sootybrown]

I am sure the figures will change many times before next year.

You mean before next week.

[Christie Paul]

They must all be massively confident about the economy Hence the somewhat irresponsibly high interest rate of 2.8% being offered to me if I lock down a shed load of Money for a year

Interesting.

If you're tempted, get a quote for hedging in THB/CHF or USD - that will tell you perceived volatility expectations of the Baht.

Beware of generous bankers.