Thailand: Continued expansion of exports/ economic growth
The Fiscal Policy Office (FPO) has revised upwards its forecast of economic growth to 7.5% for 2010, up from 5.5% projected in June, because of the continuing expansion of exports, consumption and investment.
The FPO projects the volume of exports would expand 8.5 and 4% for 2010 and 2011 respectively. Asked about the impact of the stronger baht, Satit Rungkarsiri, FPO director general, said that he didn’t think it would have that much impact, since other Asian currencies will also rise against the dollar.
“The demand for exports is much more important and with the rising consumption of agricultural products, such as rubber, cassava root and livestock, public investment will also expand 3.4 per cent this year and rise to 3.5 percent next year.”
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