Thailand's economic fundamentals remain strong

BANGKOK, November 21 (TNA) - The Ministry of Finance says Thailand maintains strong economic fundamentals despite remaining risk factors, including global economic problems and domestic political strife. Somchai Sujjaponse, Director-General of the ministry's Fiscal Policy Office (FPO), told journalists on Thursday that Thailand's financial institutes also remain stable, inflation is not high and the unemployment rate is low. Somchai assessed that Thailand's gross domestic product (GDP) should, thus, grow higher next year, when the policy interest rate, or the repurchase rate, of the Bank of Thailand (BOT) is also expected to be increased. Somchai, however, suggested that concerned parties keep monitoring the quantitative easing measure of the United States, the economies of Europe and Japan, the domestic political situation and the Thai governemnt's 2.2-trillion-baht borrowing plan to fund its new mega-infrastructure development projects over the next seven years. However, the FPO chief acknowledged that his office will, next month, revise its forecast on the Thai GDP growth this year downward to just over 3 per cent, from its previous estimation of nearly 4 per cent. (TNA)