Saturday, February 18, 2012

Thai economy could rebound this year

BANGKOK (AFP) - Thailand's economy could grow by 7.0 per cent in 2012, rebounding sharply from the impact of devastating floods last year, the country's finance minister said in remarks published on Friday.
'The Bank of Thailand sees growth of between 4.5-5.0 per cent this year, but if we can manage it right it could be 7.0 percent growth without any overheating,' Mr Kittiratt Na-Ranong said in an interview with the Wall Street Journal.

Earlier this month, Prime Minister Yingluck Shinawatra predicted that the kingdom would see growth of about 5.0 per cent in 2012, marking a sharp pick-up from 2011 when the export-reliant economy grew 1.5 per cent, according to government estimates.
Months-long floods last year took a heavy toll on Thailand's industrial heartland north of Bangkok, with many factories forced to close temporarily.

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