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Thai Finance Minister Says U.S. Economic Revival Will Aid Growth.
Byline: Wichit Sirithaveeporn
Jul. 28--The economy will show a turnaround in the fourth quarter, helped by a revival in the United States economy and local gains from the government's stimulus programmes, Finance Minister Somkid Jatusripitak said yesterday.
He said that while the economy would continue to slow in the third quarter, overall growth for the year was expected to remain between 2 percent and 2.5 percent.
Growth in 2002 was projected at 4 percent, with exports projected to turn positive again, Dr Somkid said.
The Bank of Thailand announced on Thursday that exports this year were expected to drop between 2 percent and 4 percent in value this year, before rebounding to growth of between 6 percent and 7 percent in 2002.
The central bank's Monetary Policy Committee projects 2001 growth of between 2 percent and 2.5 percent, with core inflation averaging between 1.5 percent and 2 percent for the year.
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