TDRI confident Thai economy will grow steadily at 4.5% in the latter half of 2013


BANGKOK, 19 June 2013 The Thailand Development Research Institute (TDRI) has said the employment situation in the country is not worrying at present given its average GDP growth forecast of 4.5% this year. 

TDRI Director Yongyuth Chalamwong expressed his belief that the GDP will continue to grow in the range of 4.2-5.2% for the rest of the year. His figures are higher than previously estimated by Saha Group’s President, Mr. Boonyasit Chokwattana, who had downplayed economic growth to 2-3% this year claiming that the decline was the direct result of the 300 baht minimum wage.

Mr. Yongyuth’s projection was based on a consumer index, which has remained stable for some time, and the government’s investments and the popularity of the rice pledging scheme. As for the unemployment rate, he said, the figure currently remains at a normal level although he warned that if the economy grew slower than 4%, the number of unemployment would then rise.

New graduates, he said, would face difficult time as companies may become reluctant to recruit new employees as the starting salary for job seekers with a bachelor degree has increased. He believed that while this may be the case, the employment rate will begin to pick up soon.