Political situation factored in for GDP growth estimate

BANGKOK, 26 February 2010 (NNT) – The Monetary Policy Committee will take the political and social climates of the Kingdom into consideration before announcing the 2010 GDP growth estimate on 29 April 2010.

Political uncertainties remained the main factor hindering the growth of the Thai economy, said Suchart Sakkankosone, senior director Domestic Economy Department of Bank of Thailand (BoT).

However, despite internal problems, Mr Suchart said that the economy was heading in a positive direction due to global rebound. Other factors influencing the GDP estimate include tourist sentiments. Mr Suchart said Asian tourists were found to be more sensitive to the nation’s politics than those from European countries.

The BoT senior director for domestic economy also warned that political and problems, the project suspension of the Map Ta Phut industrial estate and oil prices were risk factors for future investments in the country.