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UNCTAD chief foresees 6% Thai growth in 2013

Thailand’s economic growth this year will be at least six percent thanks to successive export expansion, the head of the UN Conference on Trade and Development (UNCTAD) projected last week.
Secretary-General Supachai Panichpakdi said the strengthening Thai baht will positively contribute to increased import of capital goods while local consumption will rapidly increase.
The state’s Bt2 trillion investment in infrastructure will be launched as planned while tourism growth will be better than targeted, he said, adding that Thailand’s public debt at 40-45 percent of gross domestic product (GDP) is stable as it remains lower than the risk figure of 50 percent.
He pointed out that there has been concern on inflow of various categories of capital, especially in property, or condominium investment in particular, and the stock and bond markets.
The Bank of Thailand was urged to intervene in the currency movement to prevent asset prices from rocketing far beyond their fundamental values, while loans to certain categories of business are excessive, sending an early signal of a possible bubble, he said.
Supachai added that the continuous inflow of foreign capital in the past year was due to the quantitative easing by the United States and European Union to trim down unemployment to below 6.5 percent from the present 7.7 percent, which has impacted Asia in general, not only Thailand.
He called on the central bank to closely monitor the inflow and outflow of foreign capital. (MCOT)


0% loans during Kasikorn’s Money Festival

Deputy Mayor Verawat Khakhay (center) and bank deputy director of service and sales Thonakrit Bunyathawornchai (center, right), along with management and staff signal the beginning of Kasikorn Bank’s Money Festival.

Thanachot Anuwan
Kasikorn Bank is offering no-interest home, car and personal loans throughout the summer as part of its Money Festival.
Deputy Mayor Verawat Khakhay and bank deputy director of service and sales Thonakrit Bunyathawornchai opened the promotion at Kasikorn’s Sukhumvit Road branch March 9.
Through Aug. 31, the bank will charge 0 percent interest for three months on car and home loans and six months on personal loans. Those applying during the Money Festival for “convenience cash” also will receive a Doraemon doll, while businesses applying can get up to 3,000 baht cash back.
The promotion, Thonakrit said, was to thank the Pattaya area for boosting its transactions by 20 percent last year.
Kasikorn operates 17 branches in the Pattaya area. For more details, call 02-888-8888.

 


 
HEADLINES [click on headline to view story]

UNCTAD chief foresees 6% Thai growth in 2013

0% loans during Kasikorn’s Money Festival

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