World Bank predicted Thai economy this year will grow 4.5% and 5% next year

The World Bank is confident that the new government’s economic team will help attract more domestic and foreign investors, and predicts that the Thai economy will grow 4.5 percent this year and five percent next year.

The World Bank Director in Asian-Pacific region, Mr. Ian C. Porter, has expressed his confidence after attending a seminar arranged by the National Economy and Society Development Plan Board Office and the World Bank. The objective of this seminar was to gather opinions in the fields of economy, society and environment, and these viewpoints will be used in arranging the tenth National Economy and Society Development Plan. Mr. Porter added that foreign investors will be more confident in the Thai economy, and the private sector is expected to make more investments in the country.

However, the Thai government has to make an understanding with the foreign sector about the Sufficiency Economy. The World Bank comprehends that this concept will help the Thai economy to expand with stability and steady growth.

Mr. Porter also expressed his opinion that the country’s has grown stably in the preceding time which means the previous government used the sufficient-economy principle extremely in macroeconomics policy.

Source: Thai National News Bureau Public Relations Department - 26 October 2006

I am not an economist, but I think its one of the worst int he Region ? True / False ?