Dubai’s crisis will not tug Thai economy down

By k on November 27, 2009

BANGKOK, 27 November 2009 (NNT) – The Minister of Finance insists the bubble economic crisis in Dubai will not affect Thailand’s recovering economy and is unlikely to involve Thailand’s new export markets in the Middle East.

Speaking on the latest problematic debt repayment case of the Dubai World Company the Minister of Finance, Mr Korn Chatikavanij, said the underlying bubble crisis in Dubai would not affect Thailand’s improving economy. He said Dubai had encountered the predicament for quite a long time. Its circumstance is, however, rather different from what had happened in Asia 10 years ago.

Mr Korn pointed out that the indices in Thailand’s real estate sector and stock market showed no signs towards bubble economy. The real estate situation is at norm while the stock prices in the market topped up 60% from the beginning of this year, corresponding to the registered companies’ profits. He said that judging from his recent visit to Qatar, which is one of the emerging markets for Thai exports, the problem has not yet affected the country as its economy is still robust.

Economy growth in China risked dire inflation BANGKOK, 28 November 2009 (NNT) – The world should be...
Thai economy to withstand Dubai crisis BANGKOK, 29 November 2009 (NNT) – The economic team of...
Cabinet to discuss impacts of Dubai financial crisis BANGKOK, 28 November 2009 (NNT) – The Prime Minister instructed...
Thai economy unaffected by Dubai economic debacle, Dong´s devaluation BANGKOK, 29 November 2009 (NNT) – The Dubai economic collapse...
Thai central bank keeps key interest rate unchanged BANGKOK, Dec 2 (TNA) – Thailand’s central bank on Wednesday...

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