GDP to expand more than 3% in 2010

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GDP to expand more than 3% in 2010 
Bangkok Post: 25 Nov 2009
GDP to grow more than 3% in 2010


The Thai economy is expected to expand by more than 3 per cent next year, secretary general of the Thai Chamber of Commerce Phairatch Buraphachaisri said on Wednesday.

The projection is based on the hypothesis that the global oil price does not rise above US$80 a barrel, the baht fluctuates only a little, politics is stabilised and there is no dissolution of parliament, Mr Phairatch said.

Even though the economy continues to recover it will take at least two years to return to the level of pre-financial crisis, he said.

The improvement in economic indicators, such as overseas orders, exports and employment, indicated that the Thai economy had already bottomed out.

Bangkok Bank CEO and chairman of the Thailand Development and Research Institute (TDRI) Kosit Panpiamrat took the same tone. He believed the economy would grow by 3 per cent under the government’s Thai Khem Kaeng (Strong Thailand) stimulus programme.

“One risk factor is that the Thai economy is reliant on the fragile global economy. If foreign countries put on hold or delay their economic stimulus measures, Thailand will be in trouble because the private sector is not ready to play a key role in mobilising the economy,” Mr Kosit said. Political conflict was another risk factor that could hamper recovery.

http://www.bangkokpost.com/business/economics/161022/gdp-to-grow-more-than-3-in-2010