Economists project 3% growth in 2010

BANGKOK, 28 December 2009 (NNT) – Economists anticipate next year’s economy to grow 3% while exporters are advised to prepare for currency flux risk, according to the Bangkok Poll.

The survey conducted during 14-18 December on economic experts from 21 leading private and government institutions indicated that 81% of the respondents expected to see at least 3% growth as a result of the recovering world economy. The Thai baht was supposed to move in 32.00-32.99 THB/USD range.

Exports in 2010 should be able to expand 9.6% but traders are warned of the risk from currency fluctuations as well as the oil price which is predicted to shift within 80-89 USD/barrel range.

Moreover, 66.7% of the polled sample reckoned that the inflation and interest rate would be retained at low level which is considered favorable to the reviving economy. They thought the Bank of Thailand would adjust the policy interest rate up from 1.25% to 2% by the end of next year, and the first interest adjustment will take place in the 3rd quarter.

The experts expressed their concerns on several major threats such as the fragile global economy, continuing political conflicts, rising oil prices, and the environmental problems which have been holding Thai economy back and may continue next year.