NESDB says govt.’s assistance package helps control inflation rate

August 25th, 2008 - 1:21 pm ICT by Amrit Rashmisrisethi  

The National Economic and Social Development Board (NESDB) reports that GDP of the second quarter has expanded at 5.3% and the government’s 6-month assistance package for low income people has controlled the inflation rate to be lower than double digit.

NESDB Secretary-General Ampon Kittiampon (อำพน กิตติอำพล) says the 5.3% GDP of the second quarter is lower than the first quarter of 6.1% due to oil price hikes and high prices of raw materials. In addition, the high inflation rate has caused demands for products and services to shrink.

However, Mr Ampon says the export growth which is higher than expected as well as growth in the agricultural and industrial sectors have supported the economy in the second quarter. The overall economic growth of the first half of the year is 5.7%, the secretary-general says.

Mr Ampon says further that NESDB has adjusted the 2008 economic growth from 4.5 – 5.5% to 5.2 – 5.7% due to the conttinuously expanding economy and the government’s assistance package which has stimulated consumer spending. As for export, it has a tendency to grow more than expected despite the fluctuation of oil price.

Source : National News Bureau, Public Relations Department of Thailand

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