Bot Estimates Southern Economy In The Second Half Of This Year To Slow Down

BOT estimates southern economy in the second half of this year to slow down

The Bank of Thailand's (BOT) southern office has made a forecast that the economy in the South during the second half of this year to grow at a slower rate in comparison to the past.

The central bank's southern office Senior Director, Mr. Pongadul Krisanarat (พงศ์อดุล กฤษณะราช), said the high prices of para rubber despite a sharp reduction recently and the tourism development have supported the economy in the South, with the exception of the three southern border provinces of Narathiwat, Pattani and Yala. He said the GDP ratio for the three southernmost provinces is only 1.2 percent. However, he said that the economy of 11 other southern provinces can still support this region.

Mr. Pongadul disclosed that commercial banks have approved the provision of loans in the three southern border provinces. The financial amount of the loans is 20 billion baht, but only 11 billion baht have been withdrawn. Furthermore, the project to aid the southern unrest-stricken provinces has granted five billion baht, but only two billion baht have been withdrawn.

As for the financial assistance for the tsunami and bird flu victims, 50 billion baht have been withdrawn from the total budget of 78 billion baht.

Source: Thai National News Bureau Public Relations Department - 08 September 2006