2011 GDP growth expected at 4-5%

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BANGKOK, 30 June 2011 – The Ministry of Finance has maintained the Thai Gross Domestic Product (GDP) expansion in 2011 at 4-5% as a consequence of continuous growth in the domestic consumption and national export. 

Fiscal Policy Office (FPO) Director Naris Chaiyasoot said in a press briefing that the country’s GDP growth for this year is anticipated at 4.5%, or in the range of 4 to 5%, the same as the original forecast given in March.

The Thai economy will be driven by both internal and external demands, particularly the continuously expanding private consumption in line with higher earnings of people and a satisfactory employment rate as well as the constant export growth in response to flourishing economy of trade partners in Asia.

Although the Thai economy has been getting affected from the deadly earthquake and tsunami in Japan, its stability is likely to remain stable.

Meanwhile, the headline inflation for this year is expected to rise to 3.8% in accordance with higher prices of commodities and fuel oil while the unemployment rate will remain low at 0.9% of the total workforce.