Thai GDP forecast to grow more than 4% next year

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Thai GDP forecast to grow more than 4% next year
By Digital Content



BANGKOK, Nov 27 -- The Finance Ministry is confident that the Thai economy will grow by more than 4 per cent due mainly to government investment, but warns that monetary and capital markets will show increasing fluctuation next year.

Ekniti Nitithanprapas, deputy director general of the Fiscal Policy Office (FPO), said the Thai gross domestic product was predicted to grow by 4.1 per cent next year because the growth rate was low this year and the global economy would pick up, though with some uncertainty.

He advised that Thailand increase its marketing campaigns in the United States, Cambodia, Laos, Myanmar and Vietnam. Thai exports should increase by 3.5 per cent next year.

Mr Ekniti said the government must speed up its spending to stimulate the economy, especially in the first quarter of next year.

He also called for quick disbursement of state enterprise budgets totaling more than Bt290 billion.

The FPO official said that money and equity markets would increasingly fluctuate next year because there would be two directions of global monetary policies.

The US economy was improving, and its interest rates will rise and that will draw money back to the US and result in a US dollar appreciation.

Meanwhile, European countries, Japan and China will ease their monetary policies to handle their weak economies.

These actions will raise the value of Thai baht against both the euro and yen currencies.

Mr Ekniti warned exporters and importers to consider their moves carefully. (MCOT online news)


-- TNA 2014-11-27

[Fred Flinstone]

Its highly unlikely that will be achieved .

A forecast like that is envisioning Tourism to rebound and investment to stabilise.

Under military rule its harder to achieve then speculate .

Thailand is well behind its neighbours in growth.

And even 4% is ambitious given the uncertainty .

Elections being postponed , free speech gagged.

Tourism sliding and no evidence that it will increase again.

In fact Thailand is the only asian Country to go backwards in growth over the last year. *(tourism)

Political unrest , then a military take over , along with bad press on grizzly murders.

Investment is largely made on confidence of stability.

So its yet to be seen.

The American growth and lower unemployment does help them.

But really these figures are based on stability…that assumes rebounds.

And that simply might not happen

I would go so far as to say 1-2% is about the absolute most

And can envision two negative quarters and a recession as more possible

Edited November 27, 2014 by Fred Flinstone

[Thai at Heart]

Its highly unlikely that will be achieved .

A forecast like that is envisioning Tourism to rebound and investment to stabilise.

Under military rule its harder to achieve then speculate .

Thailand is well behind its neighbours in growth.

And even 4% is ambitious given the uncertainty .

Elections being postponed , free speech gagged.

Tourism sliding and no evidence that it will increase again.

In fact Thailand is the only asian Country to go backwards in growth over the last year. *(tourism)

Political unrest , then a military take over , along with bad press on grizzly murders.

Investment is largely made on confidence of stability.

So its yet to be seen.

The American growth and lower unemployment does help them.

But really these figures are based on stabilitythat assumes rebounds.

And that simply might not happen

I would go so far as to say 1-2% is about the absolute most

And can envision two negative quarters and a recession as more possible

Well as long as they keep talking about the FBA they can kiss a lot of FDI away. That is worth 1-2% of GDP.

Numpties

[useronthenet]

It's not April Fools day already is it ?

Looking at the picture, I wonder if you can squeeze a few more microphones in ?

Edited November 27, 2014 by useronthenet

[BlackJack]

It doesnt matter what he thinks as Japan is calling the Worlds tune at the moment

Crashing the Yen

will impact on the whole world

[Suffinator]

Delusional and yet the masses might swallow it because they don't even understand internal economics let alone global.

Let's see if the gov impose stricter conditions in the FBA and see how well the economy fares.

[tullynagardy]

The first 3 words give you an idea to the reliability of this article.

Desperate government pumping out stupid propaganda.

Remind me of this guy

[emilymat]

Blimey, yesterday's article forecast around 4 per cent. It's growing daily. Should be around 15 by the end of December.

[Pib]

The govt will say anything especially when it's nothing more than a forecast or maybe I should say a guessitmate or a hope which is subject to frequent change.

[Eric Loh]

Really nothing to shout about even if we achieve 4% GDP growth next year coming from low base of about 1% GDP this year. The service sector which is the largest component of GDP is expected to be sluggish and the second largest industrial output unlikely to be firing all cylinders considering the softness of the export EU, China and Japan economy. Agriculture which is a small contributor will not be enough to help much. The heavy lifting has to be done by domestic economy and that's why the disbursement of money into the various infrastructure projects and populist policies will be key. Let's pray that oil don't spike up and become an inflation problem. Things will turn very ugly if the cost of living shot up.

[nong38]

In the past week we have been headlined here that exports were 20% down, unemployment could be on the rise and now GDP is forecast to rise more than 4% next year, wow! What sort of fairground ride are we on here?

Well they say talk is cheap, let the actions speak for themselves, long after we have all forgotten this................and dont forget ASEAN is just round the corner and Thailand is ready to pounce.

[rickirs]

I agree that Thailand's Gross Domestic Predictions (GDP) will grow to more than 4% next year.

[tomross46]

I hope it does grow as foretasted, as long as it does go into the pocket of corrupt politicians. We do remember the rice problems of the last regime.