Economy will recover in second half of 2009

BANGKOK, 2 August 2009 (NNT) – Industrial confidence and economic figures have continuously shown improvements in the second half of the year according to the Prime Minister.

Prime Minister Abhisit Vejjajiva stated on his weekly talk show “Confidence in Thailand with Prime Minister Abhisit”, that the country’s economy has seen signs of recovery, especially in industrial confidence, which has moved uptrend in the second half of 2009 and peaked in June. This is due to skyrocketting purchasing orders as projected quarterly by government agencies and the surveys conducted among the three prominent industrial agencies including the Japanese Chamber of Commerce, the Federation of Thai Industries and the CEO Forum.

The Prime Minister elaborated that the country’s economy has been visibly recovering as the Finance Ministry could collect revenues and related taxes of 200 billion baht during the past few months despite the earlier projection and target of 300 billion baht. Despite such improvements, the government is still implementing planned economic policies to create confidence.