Central bank praises Govt’s infrastructure investment

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BANGKOK, 18 February 2013 The Bank of Thailand (BoT) has pointed out that the government’s infrastructure investment is stimulating growth in the country’s real estate sector. 

Director of the Office of Monetary Policy of the central bank Songtham Pinto said on Monday that the overall property market in 2013 would still be able to expand due to infrastructure investment from the public sector and the continuously growing Thai economy. Other factors that will benefit real estate include the minimum wage increase and a low jobless rate. All these factors would contribute to people’s higher confidence to spend, the executive said.

However, Mr Songtham warned that the global economy’s volatility would remain a risk factor that should be monitored, saying he hoped there would be no global economic crisis that affected the real estate sector. If the sector was hit, the whole economic system would also feel the blow of the crisis as it was labor intensive.