Rangsit University bullish on economy next year

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Rangsit University bullish on economy next year

Published: 7 Dec 2012 at 00.00
Newspaper section: Business

The economy will expand between 5.5% and 6.5% next year on strong domestic consumption and private investment, predicts Rangsit University's Economic and Business Research Center for Reform.

However, the forecast runs counter to a consensus by other economists, who put their hopes in the government rather than the private sector.

Centre director Prof Anusorn Tamajai, who is also dean of the economics faculty, said his team is optimistic that 2013 gross domestic product (GDP) growth will come in a full percentage point above the economists' estimate of 4.5% to 5.5%.

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phetpeter
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Discussion 1 : 07 Dec 2012 at 08.491
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What will happen, is that families who managed well on the wages now, will find the extra money a temptation to spend on credit, for a new car/motorbike/phone and will find themselves in long term debt. Such a jump is like wining the lotto. 6 months to a year later we will see personnal debt problems looming up all around the country. The only people rubbing their hands with glee are the credit companies and retailers, it will be the longest Christmas running on into the first three months of 2013! And who are the shareholder/owners of theses companies...you guessed it!
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Rangsit University bullish on economy next year | Bangkok Post: business