Money circulation this New Year highest in 5 years

BANGKOK, 25 December 2010 (NNT) – According to the Center for Economic and Business Forecasting (CEBF), 90 billion baht will be in circulation during this New Year will reach, the highest in five years.revealed

According to CEBF Director Dr Thanawat Polvichai, a recent survey, conducted from 1,229 respondents, on consumer’s behaviors during this New Year from across the country revealed that nearly 90 billion baht would be spent on products and services related to New Year, 10.5 percent higher than last year’s.

Dr Thanawat stated the increase was a result of better agricultural products’ prices such as para rubber and rice, and the government’s plan to raise civil servants’ salaries and minimum wages.

The Center predicts that the overall economy this year will expand by 7-8%.