NESDB says Thai economy is recovering slowly



BANGKOK: -- The National Economic and Social Development Board stated that the Thai economy is not stagnant but is recovering on a slow pace.

NESDB Secretary-General Akom Termpittayapaisit said at a business forum on Tuesday that the 2014’s GDP growth could reach 1.5-2% if exports could recover during the year’s remaining period.

He said the NESDB will revise its 2014 GDP growth forecast again on November 17, but the 2015 growth projection remains the same at 3.5-4.5%.

Mr Akom, who is also the deputy minister of transport, said infrastructure investments will play a major role in stimulating the economy and in accommodating the ASEAN Economic Community.

Emphasis is being placed on rail and water transport; railways will be linked up with ports to increase efficiency in logistics and thereby cut costs.

Meanwhile the Ministry of Commerce said Thai exports in September expanded by 3.19% compared to the same period last year to stand at US$ 19.9 billion.

Director-General of the Department of International Trade Promotion Nanthawan Sakuntanak said despite the export growth, there was an import increase of 14.4% worth US$ 21.7 billion compared to the same period last year, resulting in a trade deficit of US$ 1.8 billion.

From January to September 2014, Thailand’s export value was US$ 170.5 billion, decreasing by 0.85% compared to the same period last year. The import value was US$ 172 billion, decreasing by 10% compared to the same period last year also. The country still had a trade deficit of US$ 1.5 billion.

Source: http://englishnews.thaipbs.or.th/nesdb-says-thai-economy-recovering-slowly/


-- Thai PBS 2014-10-29

NESDB Secretary-General Akom Termpittayapaisit said the 2015 growth projection remains the same at 3.5-4.5%.

Oct 27:

Gen Prayut said at Government House today that an economic downturn is possible next year,

Oct 21:

"We are passing through such a [below-potential growth] situation, but there may be more limitations in exports and tourism, which could see low growth," said Charl Kengchon, managing director of Kasikorn Research Centre

Oct 17:

World Bank economist, Miss Kirida Paopichit has also forecast that the country’s GDP for next year would grow about 3.5 percent, though the figure would also rely on the global economy.

Wouldn't it be a wonderful world if all our wishes became true? And ironically it seems that the Junta's best hope is that the economy returns to the pre-coup era; a hope that it is not very optimistic about.

NESDB Secretary-General Akom Termpittayapaisit said the 2015 growth projection remains the same at 3.5-4.5%.

Oct 27:

Gen Prayut said at Government House today that an economic downturn is possible next year,

Oct 21:

"We are passing through such a [below-potential growth] situation, but there may be more limitations in exports and tourism, which could see low growth," said Charl Kengchon, managing director of Kasikorn Research Centre

Oct 17:

World Bank economist, Miss Kirida Paopichit has also forecast that the country’s GDP for next year would grow about 3.5 percent, though the figure would also rely on the global economy.

Wouldn't it be a wonderful world if all our wishes became true? And ironically it seems that the Junta's best hope is that the economy returns to the pre-coup era; a hope that it is not very optimistic about.

True, true, pre-coup are level economy would be nice. Still with the pre-coup government having spent close to a trillion Baht outside the National Budget the current government sees itself forced to start to pay back some of that. Combined with an economic slowdown globally it doesn't look too good.

Yea Yea.