PM: Q4 Thai economy will turn positive

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PM: Q4 Thai economy will turn positive 
Bangkok Post: 22 Nov 2009
PM: Q4 economy to be positive

Thailand's economy in the fourth quarter of this year will turn positive, according to Prime Minister Abhisit Vejjajiva.

Mr Abhisit said in his weekly broadcast on Sunday morning that the National Economic and Social Development Board (NESDB) will announce the economic figures for the third quarter tomorrow.

"I expect the economy in the third quarter would still be negative but would ease when compared to the first and second quarters," he said. "The government is confident that the economy will definitely be positive in the fourth quarter and it should expand by three to 3.5 per cent."

He said the unemployment rate went down to 1.2 per cent, or about 460,000 people.

"This indicates that the economy has passed its lowest point," the premier said.

The production output rose to 65 per cent. The tourism sector saw a growth of 17 to 20 per cent, and it would likely increase continually.

He said the export sector in the third quarter contracted less than the first two quarters of 2009, and it should be positive in November and December.

The prime minister said he will start his official visit to Qatar next week in a bid to bolster trade and investment with the Middle East.

"I hope this visit will boost trade and investment, not only between Thailand and Qatar, but between Asean and Middle Eastern countries," he said.

Mr Abhisit said he will attend the annual Chiang Mai Chamber of Commerce meeting next weekend to restore the confidence of investors.

"I hope this event will bring about reconciliation because I believe people in Chiang Mai want to forget about the past political violence," he said. "This would be like Loei province, where politicians from all sides and local people work closely together to bring about reconciliation."

www.bangkokpost.com/news/local/160719/pm-q4-economy-to-be-positive