December 31, 1969
Source: TNA English News
Original Article: http://etna.mcot.net/query.php?nid=30086  Thailand's Ministry of Finance is confident that the country's economic growth in 2007 will exceed 4 per cent due to higher confidence on the part of investors as the general election moves closer and exports continue to enjoy sustainable growth.
Permanent Secretary for Finance Suparat Kawatkul said several institutional projections earlier indicated that this year's would decline below 4 per cent, but positive revisions are now expected due to continued spending on governmental infrastructure projects into the first quarter of fiscal 2008, ending December 31, continued growth in the global economy, and investor willingness to put their funds into the Thai economy after local politics has become more transparent.
After taking these factors into consideration, the Finance Ministry will again evaluate Thai economy this August, he said.
Amid these favourable factors, issues that still need to be monitored closely are the Thai currency, the baht, which continues to remain strong, increased oil prices which push Thailand's inflation to rise to 2.8 per cent, volatility of regional currencies and the continued unrest in the three southern border provinces could dampen the country's growth, he said.
The government could suffer a higher budget deficit for fiscal 2007, which ends September 30, said Mr. Suparat.
Earlier, the budget deficit for this fiscal year was predicted at Bt140 billion. Mr. Suparat said expectations on higher budget deficit would not cause a financial problem because government can draw money from financial reserves which are sufficient to cater to expected higher budget deficit. (TNA)-E111
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