Thailand's Economy Expected To Improve Next Year

[Jai Dee]

Thailand's economy will surely improve next year

The Government Pension Fund Secretary-General, Mr. Wisit Tantisunthorn (วิสิฐ ตันติสุนทร), said the economic trend of 2007 is expected to expand by at least 4 to 4.5 percent after the oil prices and interest rate continue to fall.

Mr. Wisit stated that the economy of next year should expand at a rate similarly to this year, and the Gross Domestic Product (GDP) rate should increase by 4 to 4.5 percent. The two supporting factors of this growth include the declining fuel prices in the global market and the reducing interest rate in the country.

The interest rate for next year is predicted to fall by 0.71 to 1 percent because the inflation figures are lessening.

The inflation rate for 2007 will stay at 3.5 percent when being compared to this year’s 4.7 percent.

Moreover, the government can speed up the withdrawal of the national budget of 2007, starting from the 1st of January to further enhance the overall economy and built trust among people.

Source: Thai National News Bureau Public Relations Department - 13 November 2006