BoT 2012 growth projection 4.9%
- Published: 18/01/2013 at 03:20 PM
- Online news:
The Bank of Thailand (BoT) on Friday revised its gross domestic product growth projection for 2012 to 4.9%, from the previous forecast of 4.6%, thanks to rising domestic consumption and private investment.
BoT assistant governor Paiboon Kittisrikangwan said on Friday that BoT had also adjusted its growth projection for 2013 to 4.9%, from an earlier forecast of 4.6%.
“Both private and government investment will be main factors to mobilise the economy this year. It is projected that private investment in 2013 will grow by 12.1%,” said Mr Paiboon.
Bank of Thailand assistant governor Paiboon Kittisrikangwan (Bloomberg file photo)
He said the central bank believed exports had reached their lowest point and began to improve. In addition, risk factors that could derail economic recovery have been lessened on the back of global economic stability.
Inflation was not a cause of concern anymore and the impact of the 300 baht mimimum daily wage nationwide on product prices would be minimal, he added.
The BoT assistant governor expected core inflation, which excludes food and energy, to stay at 1.7% this year and 1.6% next year, while general inflation for 2012 would be around 2.8%, and 2.6% for 2013.
However, the BoT would have to keep a close watch on risk factors that could hurt the country’s economic stability, particularly foreign direct investment inflow and outflow, said Mr Paiboon.
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