Thailand’s Finance Ministry has forecasted that the country’s economy is likely to contract by three percent for the entire year in 2009 despite a growth of 3-4 percent expected in the fourth quarter.
According to the ministry’s spokesman Ekniti Nitithanprapas, the Thai economy is forecasted to contract between 3.5 and 4.0 percent in the third quarter of this year, when compared with that of the same period last year, and is expected to expand 3-4 percent in the fourth quarter of 2009.
Dr. Ekniti, who is also the director of Macroeconomic Policy …

Thailand’s Ministry of Finance today said Thai economy is likely to contract by 3.0 percent or within the range of 3.5 and 2.5 percent this year.

Dr.Ekniti Nitithanprapas, director of Macroeconomic Analysis Group at the ministry’s Fiscal Policy Office (FPO), said on his behalf of the ministry’s spokesman that the Thai economy is projected to start recovering gradually after reaching its bottom during the first quarter of the year, mainly due to the government’s attempt to accelerate public consumption and investment expenditures through its stimulus packages.
However, Dr.Ekniti said, the country’s economy …