Finance Ministry confident Thai economy will grow despite risks

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BANGKOK, 30 July 2012 -Ms. Kulaya Tantitemit, Senior Expert on Macroeconomic Policy, Bureau of Macroeconomic Policy, Fiscal Policy Office, the Ministry of Finance has expressed her confidence that the Thai economy will be able to grow as much as 5.7% this year although the Euro debt crisis remains a threat. 

According to Ms. Kulaya, the projected growth for the Thai economy would likely be supported by domestic consumption, government and private investments. She added that the economy is quite stable although there are risks, particularly the Euro debt crisis, to be considered in the latter half of this year.

She explained that the industrial index recorded in the EU in May was -2.8% and the unemployment rate had skyrocketed to 11.1%, the highest in its history. Ms. Kulaya said the slowing Chinese and Indian economies could also have significant effect on the Thai economy, given the slowest growth in China, measured at 7.6%, and the 7.3% inflationary rate in India.