BoT forecasts continued economic recovery for Thailand

BANGKOK, 18 April 2012 – The Thai central bank is confident that the country’s economy is on the path to recovery, providing that local politics remains stable.

Bank of Thailand (BoT)’s Deputy Governor Suchada Kirakul said that the outlook of the Thai economy toward the end of 2012 shows signs of continued recovery.

Such a positive outlook is backed by both public and private investment, particularly the state spending on major infrastructure development project, which inevitably requires an extra-large sum of money.

Mrs. Suchada added that the private sector will play an important role in the Thai economic recovery as it is forced to quickly boost production efficiency and find ways to cope with the recent rise in the country’s daily minimum wage to 300 baht in order to keep their cost under control.

The BoT’s Deputy Governor stated that the overall economic situation of Thailand has proven to be better now, when compared with the past 2 years.

She noted that in order to let the economy firmly continue with the positive trend, Thai politics must remain stable while the government is to keep its investment plan in tact and secure investor confidence.

(NNT : Nopparat Chaichalearmmongkol)

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