World Bank: 2009 GDP down 2.7%
- Published: 4/11/2009 at 11:16 AM
- Online news: Breakingnews
Thailand’s economy is recovering with the gross domestic product (GDP) expected to contract by just 2.7 per cent in 2009, an economist at the World Bank’s Bangkok office,Federico Gel Sander, said on Wednesday.
Mr Sander said the GDP forecast was based on the expectation the country’s exports would shrink by onl;y 12.7 per cent, less than the previous projection of 15 per cent.
The government’s first round economic stimulus measures, such as the 2,000 baht “help the nation” cheque distribution and cost of living allowance given to the elderly had helped boost domestic consumption, he said.
The government’s public debt was being properly managed and it would not have any negative effect on the country’s economic stability.
The World Bank economist said he expect Thailand's economy would expand by 3.5 per cent next year.
The expansion rate would be less than 5 per cent annually over the next four years (2010-13) as the country relies mostly on exports and political uncertainty could hamper recovery.
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