BoT: 2010 GDP to be 3.3-5.5%

BANGKOK, 30 October 2009 (NNT) – The Bank of Thailand (BoT) estimates that Thailand’s 2010 GDP will expand at 3.3-3.5% while expressing concern over political instability and the suspension of 76 industrial projects in Map Ta Phut.

BoT Assistant Governor, Paiboon Kittisrikangwan, stated that the export value next year would grow around 13-16% while the inflation rate would stand at 3.5-5.5%. He warned that the economic expansion would be seriously obstructed if political problems remained unsolved and violent incidents occurred.

As for the 76 industrial projects in the Map Ta Phut industrial estate, Mr Paiboon said the suspension of the projects could decrease the 2010 GDP by 0.2%. He added that if the problem prolonged for longer than one year, the GDP would be lower by 0.5%.

The Administrative Court has earlier handed down an injunction to suspend the 76 projects in the Map Ta Phut industrial estate in the seaside province of Rayong due to public concern over the projects’ health impacts.