NESDB Chief : Revised growth, export in line with NESDB targets

BANGKOK, July 21(TNA) - Revisions of national economic growth to 4.2 per cent and export to 4 per cent this year by the Bank of Thailand are in line with minimum targets projected by the National Economic and Social Development Board or NESDB, NESDB Secretary-General Arkhom Termpittayapaisith said on Sunday (Jul 21). However, NESDB would consider economic data in June and the first half of this year before it could clearly indicate the country’s growth and export for 2013, Mr. Arkhom said. NESDB earlier projected gross domestic product growth at 4.2 per cent while export would grow between 7-9 per cent in 2013. But exports during the first half of this year grew only 2 per cent due to impact from slowdown in global economy and appreciation of Thai baht. In order to boost growth and export, the NESDB Secretary-General said, the country has to depend on cross-border trade and local consumption, assisted by energy conservation measures and spending by rural people. Concerned government agencies, including the Energy Ministry, are preparing measures on tax reduction for offices and households using alternative energy, for example, solar cell, he noted. According to Mr. Arkhom, the ongoing government-sponsored rice pledging scheme, particularly between this October until early 2014, is expected to help boost spending by rural people. Exporters are urged to find new oversee markets to spur exports. On investment sector which the government hopes to boost economy through its investment worth 350 billion baht on water management scheme and another two trillion baht on revamping transport infrastructure projects which have been delayed, it is expected that the two massive projects would not pose any effect on Thailand’s economy this year much. NESDB has not taken both projects into its economic projection this year, he said. (TNA)