Finance Ministry to review export growth target
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The Fiscal Policy Office is revising the export growth forecast in September, given weakening global demand.
"As of June, we set the growth target at 12.8 per cent, based on data in the first five months of the year. Then, we expected that June and July figures would show improvement," said .... "Yet, the figures turned out below estimates. In September, the annualised target would be reviewed. If the average export value (in the remaining months) is below US$20 billion a month, this year' export would grow only 5-6 per cent."
Still, the office maintains the economic growth forecast for 2012 at 5.7 per cent, the same rate as the Bank of Thailand, thanks to robust domestic consumption and investment.
In July, domestic consumption continued to expand, resulting in the 18.8 per cent expansion in value-added tax. Private investment also expanded, as capital goods imports rose 34.1 per cent.
