- General
- Business
- Moodys's say
- Economy
- Bank and Finance
- Politics
- Energy
- World
- Environment
- Entertainmentt
- Sport
- Agro and Food
- Lifestyle
Bangkok Bank: Thai econ to remain weak despite 3% growth
By k on December 17, 2009
BANGKOK, 17 December 2009 (NNT) – Bangkok Bank has estimated the Thai economy next year to remain weak despite prospective growth of 3%. This is due to both domestic and international risk factors which have affected investors’ confidence.
Mr Kosit Panpiemras, the chairperson of the board of executive directors of Bangkok Bank, speculated that the Thai economy in the last quarter this year could rebound to positive territory but the economy in general for this year would contract by 3%. As for next year, he said the economy would remain weak although it could expand by 3%.
The chairperson viewed that the Thai economy was still at risk since the global economic recovery was not strong while problems from the Map Ta Phut projects suspension also exacerbated the situation. He suggested the government to conduct policies to drive the economy forward and solve the Map Ta Phut problems in a more integrative manner.
Mr Kosit continued to say that the government next year might be at risk for being unable to utilize the monetary policy to the fullest extent as the Bank of Thailand had been reducing the interest rate policy. He believed that Thailand would have to increase the interest rate following movements of other countries.
Regarding the decision of the cabinet to extend relief measures for low-income earners for another three months, the chairperson said that the reasons were acceptable. He then commented that the government could solve the economic problems throughout its one year in office amid surrounding difficulties.
Related posts:
- Bangkok Bank foresees 4-5% econ expansion BANGKOK, 11 March 2010 (NNT) – Bangkok Bank says the...
- World Bank: Thai econ in 2010 to grow by 6.1% BANGKOK, 25 June 2010 (NNT) – The Thai economy this...
- Central bank retains economic growth estimate unchanged BANGKOK, Jan 23 (TNA) – Bank of Thailand (BoT) Assistant...
- Economists project 3% growth in 2010 BANGKOK, 28 December 2009 (NNT) – Economists anticipate next year’s...
- Aim for more productive capacity, rely less on exporting BANGKOK, 4 September 2009 (NNT) – Kosit Panpiemras, Chairman of...
Related posts brought to you by Yet Another Related Posts Plugin.
Readers Comments
Business News »
Loan clients urged to be well-prepared for higher finance costs
July 16, 2010
BANGKOK, July 16 – Loan customers, particularly small- and medium-size enterprises (SMEs), must have well-prepared business plans to cope with higher financial costs in the face of an upward interest trend, according to the Kasikorn Research Center (KRC), a leading Thai financial think tank. Kasikorn said that major domestic commercial banks had begun raising the [...]
Bank And Finance »
Commercial banks announce hikes in interest rates on fixed deposits
July 16, 2010
BANGKOK, 16 July 2010 (NNT) —Interest rates on fixed deposits and lending rates have been hiked by financial institutions following the hike in the policy rate by the Central Bank. Krungthai Bank has announced its fixed deposit interest rate hike of 0.25-0.35%, while key lending rates would be increased by 0.125-0.15%, effective today. Siam Commercial [...]
General News »
Summary of the 9th APEC Energy Meeting
July 12, 2010
Thai delegates led by Minister of National Resources and Environment, Suwit Khunkitti, along with international counterparts from 20 countries attended the 9th Asia-Pacific Economic Cooperation (APEC) Energy Ministerial Meeting in Fukui, Japan on 19 June 2010. During the summit, a speech on the “Low Carbon Paths to Energy Security: Cooperative Energy Solutions for a Sustainable [...]
Economy »
4 Govt agencies cooperate to promote Thai investment abroad
July 12, 2010
BANGKOK, 12 July 2010 (NNT) – The Office of Thailand Trade Representative (TTR) joins force with three financial institutions to promote Thai investments abroad, with operators in various business groups showing keen interest in the project. TTR along with SME Bank, EXIM Bank and the Government Pension Fund (GPF) announced their cooperation in credit support [...]
Energy »
Moody´s chops down PTT´s credit
June 29, 2010
BANGKOK, 29 June 2010 (NNT) – An international credit rating firm, Moody’s Investors Service, has lowered the creditworthiness of Thai petroleum giant PTT Plc from A2 to A3 with a negative outlook. Moody’s Investors Service has changed the local currency issuer rating for PTT Plc from A2 stable to A3 negative while the foreign currency [...]
Politics »
One month needed for Interpol consideration over Thaksin´s case
July 16, 2010
BANGKOK, 16 July 2010 (NNT) – A nod from the Paris-based international police intelligence-sharing association, Interpol, over case of self-exiled ex Prime Minister Thaksin Shinawatra should be known within one month. Police Maj-General Terdsak Rujirawong, Commander of the Royal Thai Police Foreign Affairs Division, said on Friday that an arrest warrant on terrorism charge issued [...]