Results 1 to 4 of 4
  1. #1
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413

    Thai PM seeks to reassure investors on economy

    Thai PM seeks to reassure investors on economy

    Wed, Sep 12 2007, 05:54 GMT
    http://www.afxnews.com


    BANGKOK (Thomson Financial) - Thailand's army-installed premier sought Wednesday to reassure investors that the Thai economy is on track to grow by up to 4.5 percent this year, and insisted the country is headed back to democracy.

    Prime Minister Surayud Chulanont said despite slowing exports the economy is expected to grow by 4.0-4.5 percent in 2007.

    The economy expanded by 4.3 percent in the first half, with strong contributions from exports of goods and services. The figure was among the lowest in Southeast Asia.

    "Exports will remain the key driving force, although a slowdown is foreseen due to prevailing global economic risks," Surayud told 270 fund managers at an economic conference in Bangkok.

    At the same time, softening private investment and consumption are still in a "transition period", he said, but he voiced confidence that they are starting to turn around.

    Following a contraction of 2.3 percent in the first quarter, private investment expanded by 0.2 percent in the second, Surayud said.

    "The situation has already bottomed out. Private investment will gradually continue on its upward trend," he said.

    "On the external front, I can guarantee you that that the exchange rate will be well managed at a level at which the current account will surely be sustained."

    Regarding political uncertainties, Surayud said the country is now moving to "restore real democracy" following the approval of an army-backed constitution in a referendum last month.

    "The government and the Council for National Security have scheduled free and fair general elections to be held no later than the year's end, and a new government should be formed in January," he said.

    "This is an important step to ensure that the country can now move forward and we can definitely envisage a return to full democratic government," he said.

    The government has set elections for Dec 23, when the junta -- which calls itself the Council for National Security -- is supposed to be dissolved.

    But the junta leader, General Sonthi Boonyaratglin, has not ruled out the possibility of him seeking the premiership for himself.
    fxstreet.com

  2. #2
    ding ding ding
    Spin's Avatar
    Join Date
    Jul 2006
    Last Online
    @
    Posts
    12,608
    Quote Originally Posted by Mid
    "On the external front, I can guarantee you that that the exchange rate will be well managed at a level at which the current account will surely be sustained."
    The dollar slumped this week and you can expect to see onshore exchange rates of 33 within a few days.
    Many believe that the Thai economy cannot compete with China when the baht is below 35-36 to the dollar.

  3. #3
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413
    But the junta leader, General Sonthi Boonyaratglin, has not ruled out the possibility of him seeking the premiership for himself.
    it's another scorpion ......................

  4. #4
    Tax Consultant
    Thormaturge's Avatar
    Join Date
    Jul 2007
    Last Online
    @
    Location
    Bangkok
    Posts
    9,892
    They seem to be exporting a lot of Farangs this year. Not sure if that counts.....

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •