Thailand’s Economy To Bounce Back In 2012

Deputy Prime Minister and Commerce Minister Kittirat Na Ranong affirmed Thailand’s economy remained strong, despite the country facing a massive flood crisis late last year, and he was confident the Gross Domestic Product (GDP) could expand more than 7 per cent this year.

Prime Minister Yingluck Shinawatra on Saturday was absent from her weekly TV and radio programme, “Yingluck Government Meets the People,” but assigned Mr Kittirat, who also represented the premier as chair of the Strategic Committee for Water Resources Management, along with the Strategic Committee for Reconstruction and Future Development chairman Virabongsa Ramangkura, to clarify the water management plan and Thailand’s economic prospects in 2012.

Investment And Exports Will Be Key Economic Drivers In 2012

Mr Kittirat said that he believed that this year could be a golden year for Thailand despite the flood crisis because there would be investment and development to make up for the damages caused by the one of the worst floods in recent history.

The National Economic and Social Development Board (NESDB) said investment and exports will be key economic drivers in 2012.
The NESDB forecast investment growth to reach more than 10 percent, from four percent in 2011. Household consumption is also set to rise. The government’s Fiscal Policy Office is pitching annual growth at 5.0 percent.

Source: Thailand Business News
10th January 2012