Finance Minister satisfied with GDP growth figure

BANGKOK, 22 February 2010 (NNT) – Finance Minister, Korn Chatikavanij, expressed his satisfaction over the country’s economic and export expansion as reported by the National Economic and Social Development Board (NESDB).

According to NESDB Secretary General, Ampon Kittiampon, the GDP in the 4th quarter of 2009 grew 5.8% year-on-year, averaging 2009 annual growth out to minus -2.3%.

Mr Korn estimated that this year’s GDP growth will likely expand by no less than 3%, but admitted that the current political uncertainties could undermine local and foreign investors’ confidence and impede economic recovery as investments from the private sector were deemed vital to propel the economy.

The country’s economic expansion was also driven by the budget disbursement and investment budgets under the Strong Thailand economic stimulus scheme, said the minister. He added that the private sector investments were needed as there were small amount of budgets for stimulating the economy this year, unlike those of the 2nd quarter of the previous year.