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BOT confident of 4% growth next year
The economic recovery this year will no longer be V-shaped if growth in gross domestic product does not reach 1.5 per cent.
However, the economy will definitely expand by more than 4 per cent next year, since it is coming off a low base, tourism is sure to improve, and exports will ride the hoped-for global economic recovery, Don Nakornthab, director of the Bank of Thailand’s Macroeconomic Policy Office, said yesterday.
Private consumption and investment should be able to recover fully if the government can really implement its budget acceleration and investment plans, he told a seminar arranged by the Economic Society of Thailand and the National Institute of Development Administration.
The economic expansion next year will largely depend on the government’s fiscal policy, while the private sector will be reluctant to make any new moves until the military regime provides more clarity in its investment plans.
Overdependence on the government’s stimulation measures would also be risky, since in the past most such efforts failed to meet expectations, and there are also risks regarding the uncertainty in the recovery of the global economy next year, especially in the euro zone.
GSB boss targets youth
Chatchai Payuhanaveechai expects to focus on teenagers and working people aged 15-30, while launching products to attract these groups, when he starts work as president of the Government Savings Bank in the middle of next month.
The bank will submit his nomination to its board before forwarding it to the Finance Ministry for approval and the Cabinet for acknowledgement.
GSB has more than 20 million customers in terms of accounts, of which about 80 per cent are children and seniors.
More HKA flights
Hong Kong Airlines will increase the frequency of its Bangkok route with a sixth daily service commencing on December 19.
Li Dianchun, commercial director of HKA, said yesterday that more than 3,200 seats would be offered every day with different flight times for the Bangkok route, providing passengers with more flexible travel options.
