JSCCIB believes the nation’s econ growth still at 4-5% this year

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BANGKOK, 9 July 2013 The Joint Standing Committee on Trade, Commerce, Industry and Banking (JSCCIB) expressed its confidence that Thailand would still be able to achieve the targeted economic growth of 4-5%, believing that the government has all it needs to handle the fluctuation of incoming capital. 

According to Mr. Chartsiri Sophonpanich, Chairman of the JSCCIB, the committee has decided to retain the national growth projection at 4-5% despite the increasingly unstable global economy in the second half of the year, which sees several economic superpowers signalling adjustments to their monetary policy.

He said the JSCCIB’s announcement was made to allow the business sector and investors to adjust their strategies accordingly, adding the figure should signify that the nation’s economy is stable in the medium term.

The JSCCIB chairman however admitted that the current global economy might have a negative effect on the credit release, but only a little on the nation’s overall economy.

He also believed that the predicted growth would not cause a bubble in the real estate segment. He estimated credit expansion would be around 6-8% this year.