Bangkok Bank's Kosit expects this year's economic growth at 3-4 percent

[webfact]

Bangkok Bank’s Kosit expects this year’s economic growth at 3-4%

BANGKOK, 27 Mar 2015 (NNT) - CEO of the Bangkok Bank Kosit Panpiemrat expects this year’s economic growth would be in the range of 3-4%.

Mr. Kosit said the local economy is slowly recovering as there are still domestic and international factors that are still holding back the recovery. He also indicated that several changes in politics have stalled investment projects in the government sector. He was of the opinion that the ongoing financial difficulties were not because of low public spending but rather due to low public saving.

Meanwhile, Deputy Prime Minister M.R. Pridiyathorn Devakula told CNBC news during his participation in the 2015 Asian Investment Summit that Thailand’s economic growth this year would likely be around 3% due mainly to a decrease in the demand for export goods in the major trading partners such as the US.

As for the national reform, the government sets to solve various economic problems, while planning to abolish the energy subsidy scheme. M.R. Pridiyathorn stated the administration also aims at using more coal to produce electricity, adding a new round of natural gas exploration project would soon resume.


-- NNT 2015-03-27

[Costas2008]

Fed up listening to predictions on the economic growth in Thailand.

A different one every day.

At the end.....just remember......they will all be out.

Just concentrate to improve the economy as the predictions do not offer any help, except Thai Visa to publish more articles about that.

[loppylugs1]

Government level all is rosy,local business level all in dire straights

[ronwparker]

THEY MAY HAVE FORECAST IT BUT UNLESS THE DEVALAUTION IS LARGE ,SADLY I DO NOT THINK IT WILL HAPPEN

[Srikcir]

"He was of the opinion that the ongoing financial difficulties were not because of low public spending but rather due to low public saving."

Meanwhile every Thai business association and BOT blame the Junta in part for low public spending. How can you blame the public that has seen a massive economic slowdown, loss of income, and increase in household debt. Where does one find funds to save?

But Kosit still expects 2015 economic growth at 3-4%! Yet, just days ago we have the following projection:

"Kasikorn Research Center yesterday cut its nation's economic growth projection from 4% to 2.8%, thanks to the slow economic recovery rate and shrinking exports." - 24 Mar 2015

Bangkok Bank is just another Junta appologist trying to shift blame for Thailand's failing economy on anyone but the only group in control of the nation - the NCPO.

[Pib]