'Thailand's economic growth rate on target'

["Ulhas Joglekar" <ulhasj@xxxxxxxxxxxxxxxxxxxx>]

Wednesday
13 December 2000

'Thailand's economic growth rate on target'
BANGKOK, Thailand: Thai Deputy Finance Minister Pisit Leeahtam said on
Tuesday that Thailand's economic growth for the year is expected to fall
within the central bank's earlier projected range of 4.5 per cent to 5.5 per
cent.
Pisit, responding to reporters' questions, called a private agency's less
bullish projection of 3.9 per cent growth in gross domestic product "too
low" in view of the fact that first half GDP stood at 5.9 per cent.
"The full-year GDP at 3.9 per cent would mean 2 per cent economic growth in
the second half, which is unlikely," Pisit said.
Gross domestic product is the total value of a country's goods and services
produced within its borders.
The lower estimate was made jointly by the Thai Bankers Association, the
Thai Chamber of Commerce and the Federation of Thai Industries.
Acknowledging that there was some impact from surging oil prices in most of
the second half of the year, he said Thailand's economy is still
well-supported by robust exports, which should grow 19 per cent to 20 per
cent year-on year.
The National Economic and Social Development Board, a state planning agency,
will release third-quarter economic growth data and its revisions of the
previous quarters' figures next Monday. (AP)
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