Thailand's Prime Minister Abhisit Vejjajiva said Thursday he believed the country's economy will post a positive growth rate at the end of 2009 or at the beginning of next year.
Amid the global economic turmoil, Thailand's exports and tourism sector have been hard hit, especially during the first half of the year, but the negative growth rate is estimated to be still relatively lower compared to that of neighboring countries, he said.
However, the country's strong economic fundamentals plus with the proper management on the fiscal and monetary side will help reduce the negative impacts from the external economic problem, Abhisit said.
During the first quarter of this year (January-March) the country's exports were sharply down at 20.6 percent year-on-year, while the country 's imports also plunged 37.6 percent year-on-year, resulting in the country's trade surplus of 7.8 billion U.S. dollars.
Even though the country's exports have been hit by the global economic slowdown, Thailand has potential to approach new export markets, the Prime Minister said.
Hence, the country's economy is expected to post the positive growth rate at ending 2009 or at the beginning of next year, Abhisit said.
Thailand's economy during the first quarter (January-March) of 2009 shrank 7.1 percent year-on-year and was also lower compared to a 4.2-percent contraction during the previous quarter (October-December, 2008), the government's think-tank National Economic and Social Development Board (NESDB) announced on Monday.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article