Finance Ministry predicts 15% growth for 2012 export

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BANGKOK, 17 May 2012  – Deputy Prime Minister and Minister of Finance Kittiratt Na Ranong has insisted that the Thai economy is still strong, while expressing confidence that the export sector will enjoy a 15% growth this year. 

Mr. Kittiratt said that the decrease of energy price in the global market has relieved pressure from domestic product prices, which is considered a good sign for the country’s economy. Meanwhile, export, which serves as a vehicle to stimulate the economy, is still active in many parts of the world despite the European financial crisis. Thus, it is believed that a 15% growth could still be achieved for 2012.

However, he admitted that the price of certain goods, particularly ready-to-eat meals, may not be reduced once the initial costs start dropping in the near future. This is partly due to the small number of entrepreneurs in the country, thus, leading to little market competition.

Additionally, Mr. Kittiratt has expressed confidence that the Thai economy is still strong and has already recovered from last year’s flood crisis. He added that many economic forecast centers have begun to make positive adjustments to Thailand’s economic growth. “