Kittiratt upbeat on exports, GDP growth
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Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong is optimistic the Thai economy will grow 7 per cent this year, with exports expanding 15 per cent, exceeding the official projections of state agencies.
The Bank of Thailand recently slashed its target for export growth this year to 8 per cent, while the Fiscal Policy Office’s most recent GDP growth forecast is in a range of 5.2-7 per cent.
The government is prepared to deal with the fallout from the debt crisis in the euro zone, Kittiratt said on the “PM Meets the People” radio programme yesterday. “Thailand’s public debt [to GDP] ratio is still at a low level. This is good news [when it comes to] handling the upcoming unprecedented crisis.”
Kittiratt believed that the impact of the EU crisis would not be too serious.
“Though the impact is not severe, we need to prepare for it, especially on fund flows. We’re still doing well in terms of distribution of products exported by the industrial and agricultural sectors,” Kittiratt said.
