Downside risks remain
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Thailand's economy must expand 12-14 per cent in the fourth quarter, to allow the Kingdom achieve the annualised growth target of 5.5 per cent this year, according to the Finance Ministry.
Somchai Sajjapongse, director-general of the Fiscal Policy Office as the ministry's spokesman, said on Monday that in the third quarter, the economy could expand 3.5-4 per cent thanks to domestic consumption and investment.
Still, he noted that the economy must expand 12-14 per cent in the fourth quarter, so that Thailand can achieve the annualised growth target of 5.5 per cent.
The office forecasts 4.7-5.7 per cent growth rate for 2013.
Somchai admitted that Thailand's export-oriented manufacturing sector has been hard hit by the euro zone crisis as well as global economic uncertainties. In the quarter, export dropped 3.8 per cent from the same period last year. The manufacturing production index in September also contracted by 13.7 per cent on year, marking the contraction for four consecutive months. The quarterly index also dropped 10.2 per
