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  1. #1
    Mid
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    Thailand's FPO revising economic growth estimate




    Thailand's FPO revising economic growth estimate

    BANGKOK, Nov 20 (TNA) – Thailand's Fiscal Policy Office plans to revise its economic growth estimate for this year and next year, citing as it reason continuing oil price hikes which it says will affect the overall economy.

    FPO Director-General Pannee Sathavarodom revealed that the office will announce its revised economic growth projection on November 27 since the economic risk from surging oil prices had increased considerably.

    She said the economy this year might grow less than 4.5 per cent as earlier target because oil prices had risen significantly and the US dollar continued to weaken.

    However, the FPO believed an average price of crude oil will not exceed US$64-68 as targeted earlier.

    Mrs. Panee said oil is considered a commodity over which the producing countries have substantial bargaining power in terms of prices because the producers can determine the selling prices in dollars and apply financial resources in terms of other currencies in order to offset a projected shortfall in revenue due to the weakening greenback.

    She added that the FPO will also consider how extensively the economies of Thailand's trading partners would be affected by the oil price surge.

    Asked whether the economy next year would grow as much as 5 per cent, she said the FPO would need to listen to the policies of the new government first and to closely monitor global oil prices. (TNA)-E005

    enews.mcot.net


    nothing left in the smoke and mirrors bag ??

  2. #2
    Tax Consultant
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    Quote Originally Posted by Mid View Post
    she said the FPO would need to listen to the policies of the new government first
    Policies?

    LOL


  3. #3
    watterinja
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    No, I really think Thailand is facing tough times ahead. I really do.

    I'm seeing a few things happening around the patch that lead me to believe that overall business confidence is dropping off.

    It will need a concerted meeting of great minds & a national think-tank, to induce the stability required to prevent Thailand slipping further down the slippery slope.

  4. #4
    Mid
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    Thailand enjoys record high export in October


    Thailand's exports in October hit a record high of more than US$14.5 billion, with export growth in October alone at 26.7 per cent, pushing export growth during the first ten months to 17.2 per cent, according to the Department of Export Promotion (DEP).

    DEP director-general Rachane Pojanasunthorn said in October Thailand's exports reached US$14.516 billion, up 26.7 per cent over the same period last year, considered the highest level since the country started recording export statistics.

    Of last month's US$14 billion export figure, industrial goods as a category marked a 29.1 per cent increase, agricultural goods marked a 22.6 per cent increase and other export categories rose 21.4 per cent.

    The record export growth resulted from the joint cooperation between the public and private sectors to penetrate markets-- both old and new, he said.

    Although the Thai baht has sharply appreciated against the US dollar, and skyrocketing global oil prices were major factors obstructing Thai exports, the approach of Christmas and the New Year festival encourage foreign importers to buy goods from Thailand.

    As for imports during in October, Thailand imported goods worth US$13.017 billion, a 20.2 per cent increase, while total imports during the first ten months reached a value of US$115.16 billion, a 7.8 per cent increase, he said.

    Mr. Rachane said that in October Thailand enjoyed a US$1.499 billion trade surplus, 137.2 per cent more when compared with the same month last year and during the first ten months, Thailand enjoyed a US$9.953 billion surplus compared with the same period last year when the kingdom suffered a trade deficit for US$53.3 million.

    The director general added that for the remaining two months of the year, the country could export over US$10 billion each month and could meet an earlier target with sustainable growth of not less than 12.5 per cent.

    Thailand might well enjoy a trade surplus of over US$10 billion for the whole year, he said.

    On November 26-27, he said, the Department of Export Promotion and major exporters will meet to assess the export trend of this year and map out the export targets for the next year. DEP will eventually announce the export target for next year in early December. (TNA)

    bangkokpost.com



    crazyabouttv.com

  5. #5
    I am in Jail

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    ^ Boy, rabbit out of the hat is right, Bullwinkle. I don't know how they keep dodging the bullet under these conditions.

  6. #6
    Mid
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    Exports continue to drive Thai economy



    BANGKOK , Nov 27 (TNA) - Continuing strong exports have led Thailand's Ministry of Finance to raise its economic performance forecast for 2007.

    Thailand's economy is projected to grow this year by 4.5 per cent, revised upward from the earlier estimated 3.8-4.3 per cent, with a stronger performance of 4.5 to 5.5 per cent expected in 2008.

    Releasing data to the press, the Fiscal Policy Office director general Pannee Sathavarodom credited higher exports as the main reason for the improved performance.

    October performance in the export sector was 26 per cent higher than last year for a record US$14.5 billion, according to the Ministry of Commerce.
    At present exports comprise almost 60 per cent of the Thai economy.

    Despite poor economic performance in general during the past year, the Thai economy is expected to improve following the first post-coup election on December 23. (TNA)

    enews.mcot.net

  7. #7
    Mid
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    CEBF Director: GDP in 3rd quarter grew 4 percent
    30 November 2007


    The Director of the Center of Economic and Business Forecast (CEBF) under the University of the Thai Chamber of Commerce (UTCC), Mr. Thanawat Pholwichat (ธนวรรธน์ พลวิชัย), says public members are starting to be more optimistic prior to the upcoming general election on December 23rd this year.

    He says more agricultural products have been exported to Thailand’s neighboring countries, in a bid to raise the third quarter’s gross domestic product (GDP) growth to four percent.

    Mr. Thanawat says people are becoming more hopeful as the general election is approaching after assessing the regional economic growth during the second and third quarters.

    He says prices of agricultural goods are still high and the allocation of investment funds is more efficient than before.

    He believes the country’s GDP in the third quarter of this year will expand by four percent.

    The central region will likely see the highest GDP growth, with 4.97 percent.

    At the same time, Bangkok metropolis and vicinity can expect 3.92 percent of GDP growth, while northeastern Thailand will gain 3.64 percent.

    However, the GDP growth rate in the South will be only 3.05 percent, due to the unresolved southern unrest.

    In the fourth quarter, the CEBF speculates that the national economy will perk up and grow by approximately 4.3 percent.

    thainews.prd.go.th

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