Παράθεση από: doctortilac στις 26/04/09, 21:09
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[size=10pt]Thai economy to contract 4.5-5 per cent: Finance Minister[/size]
BANGKOK, April 16 (TNA) – The Thai economy could contract by as much as 5 percent in the aftermath of the recent political upheaval, Finance Minister Korn Chatikavanij said Wednesday.
Mr. Korn said the turmoil had shaken investor confidence significantly, as well as inflicting a major blow on the tourism sector. As a result, academics are now forecasting that the Thai economy will contract in the range of 4.5 to 5 per cent, from the pre-riot forecast of a 3 per cent contraction.
Two million people facing the prospect of job loss and shrinking revenue collections prospect on part of the government are also looming.
Amid such gloom, economic revival will be the main theme when the Cabinet has a special meeting Friday and the weekly Cabinet meeting Tuesday, said Mr Korn.
The finance minister admitted that the political turmoil has set back the government’s efforts to tackle economic problems over the last three months, as the government needs to start anew in restoring confidence.
Mr. Korn said one possible solution is for the government to speed up the dispersal of some Bt1.5 trillion in economic stimulus measures.
Meanwhile the Thai stock market is expected to suffer some losses as it opens for trade on April 16.
However, analysts would like to be on the optimistic side, following a video conference on Wednesday in which SET answered queries from 50 major institutional investors, explaining the political situation. (TNA)