Thai economy will grow by 4 percent in 2011

BANGKOK, 9 January 2011 (NNT) – Finance Minister Korn Chatikavanij has predicted that the Thai economy will expand by 4 percent in 2011, down from last year’s growth of 8 percent, however.

The rate of Inflation for the entire year would be around 3 percent, the level considered normal and unproblematic, added the Finance Minister.

Mr. Korn further explained that the increase in inflation rate was due to uncontrollable factors including oil prices which have a direct impact on the Thai economy, given Thailand is a developing country which uses a large amount of oil.