NESAC deputy chairman says economy may slightly drop next year
November 22nd, 2007 - 4:51 pm ICT by adminDeputy Chairman of the National Economic and Social Advisory Council (NESAC), Vorapol Socatiyanurak (วรพล โสคติยานุรักษ์), says the economy may lag behind slightly next year but a clearer political situation can help shed light onto it.
The deputy chairman states that the overall economic growth next year depends largely on the export sector, which accounts for 50% of the country’s GDP. Factors contributing to the economic slow down include oil price hikes in China and the European Union in addition to the repercussions to the US sub-prime mortgage crisis.
Mr Vorapol adds that the economy of many countries have a tendency to decrease and suggests Thailand to adjust strategies to boost the export sector. He says the country needs to expand markets in foreign countries as export plays an important role in Thailand’s economy.
The deputy chairman says further that political stability will stimulate the private sector and domestic consumption and expresses his confidence that next year’s economy will grow by 5%.
Source : National News Bureau Public Relations Department of the Thai Government
- Protests likely hit tourism industry, says academic - Aug 27, 2008
- Japan's exports fell in October - Nov 21, 2011
- India to grow 9 percent in 2011-12: PM's advisor (Lead) - Feb 21, 2011
- Report: Thai floods to downgrade country's economic growth by 1.2 percent - Nov 26, 2011
- India assumes chair of Indian Ocean Rim grouping (Lead) - Nov 15, 2011
- Nepal business group plans 30 hotels in Asia - Feb 18, 2011
- `Eurozone crisis to dent Canadian growth' - Jan 19, 2012
- No immediate withdrawal of economic stimulus: Ahluwalia - Oct 12, 2009
- China's economy to rise at slower pace in 2012 - Nov 26, 2011
- Brazilian exports on track to set new record - Oct 20, 2011
- White House reveals how Obama will address outsourcing issue during India trip - Oct 29, 2010
- Government will bring economy back on growth path: Ahluwalia - Apr 20, 2012
- Spain jobless rate may rise to 23 percent - Nov 29, 2011
- Bank Of America To Pay $108 Million As Settlement - Jun 08, 2010
- Economy to grow by 8.6 percent this fiscal: PM's advisor - Feb 21, 2011
Tags: advisory council, deputy chairman, domestic consumption, economic growth, export sector, expresses, foreign countries, national economic, national news, news bureau, oil price hikes, political situation, political stability, private sector, public relations department, repercussions, shed light, sub prime mortgage, thai government, Thailand