ADB: 2012 GDP growth 5.2% | Bangkok Post: breakingnews

ADB: 2012 GDP growth 5.2%

Published: 3 Oct 2012 at 13.33
Online news:

The Asian Development Bank (ADB) has lowered its 2012 gross domestic growth projection for Thailand from 5.5% to 5.2% on the back of a global economic recession that has hurt the Thai export sector.

The bank’s senior economist, Lucksamon Atthapich, said on Wednesday the ADB also slashed its growth forecast for 2013 to 5% from the previous projection of 5.5%.

The ADB has also lowered its growth projection for developing countries in Asia to 6.1% from 6.9% and to 6.7% in 2013, down significantly from 7.2% in 2011, she added.

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Silkpit
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Discussion 2 : 03 Oct 2012 at 21.042
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K. Kittiratt not only lies white, he also proclaimed that the European economic crisis wouldn't hurt Thailand, not so long ago.
The wrong man for the job and us taxpayers.
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boons
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Discussion 1 : 03 Oct 2012 at 19.231
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Where is dear Mr. Kittiratt with his repeated growth projections of 15%?

Do you suppose that the corporations who believed Mr. Kittiratt and spent additional funds on inventory and infrastructure are regretting listening to the finance minister now? The problem with juicing markets with false projections is that when things don't work out, the gap between expectations and reality tends to be quite painful.

Any business suffering said pain should send a letter to Mr. Kittiratt's office and thank him personally for the politically motivated, mathematically impossible projections.
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