BANGKOK, 22 April 2011 -Director of the Master of Public Administration program at the National Institute of Development Administration Assoc.Prof.Dr Montri Sokatiyanurak said Thai economy would pick up the pace next year while indicating that it could prompt interest rates to rise.
According to Assoc. Prof. Dr. Montri, the current economy will expand by 4% compared to 7% last year, given that the figure has been calculated on the basis that neither political tensions nor natural disasters will occur this year. The budget set aside for oil subsidy also has been taken into account in this scenario.
He added that while further growth was expected for next year, the interest rates would also increase accordingly. The Northern region of Thailand will see an expansion of 10% as it is surrounded by China, Laos and Myanmar. Assoc. Prof. Dr. Montri said that Chiangmai province alone would be able to trade with China and India in the future.
Assoc. Prof. Dr. Montri said in the next 25 years, China would experience highest economic growth followed by the United States, India and Japan. Among ASEAN nations, Indonesia will come out on top in terms of economic growth followed by Vietnam and Thailand respectively.