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THAI ECONOMY LIKELY TO PICK UP IN 2008-2009: FINANCE MINISTRY.
BANGKOK, Sept 1 Asia Pulse - The Thai economy is likely to pick up in 2008-2009 with a growth rate of 5-6 per cent, bolstered up by the expected recovery of state and private spending, according to the Ministry of Finance's Fiscal Policy Office (FPO).
FPO's Director-General Naris Chaiyasoot said on Wednesday the Thai economy this year is projected to expand 4.5 per cent driven by increased exports due to improvement in economies of trading partners although the domestic consumption and investment is projected to drop.
Next year, the Thai economy is forecast to grow at a slower pace to around 3.5-4.5 per cent as a result of the global economic slowdown and a delay in the budget disbursement in fiscal 2007.
He said the country's economy this year would be mainly driven by external factors such as an increase in the exports of products and services to 8.8 per cent per annum from 4.3 per cent last year.
It is also expected that the local tourism will recover from a repercussion of the legacy of tsunami disaster in late 2004.
The country's imports are projected to grow 2.4 per cent, down from 9.4 per cent in the previous year, since the import volume of crude oil, ...
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Source: HighBeam Research, THAI ECONOMY LIKELY TO PICK UP IN 2008-2009: FINANCE MINISTRY.