Thai economy grows by 6.4% in 2012, expected by 4.5-5.5% in 2013

BANGKOK, February 18 (TNA) - The Office of the National Economic and Social Development Board (NESDB) reported on Monday that the Thai economy grew by 6.4 per cent last year and is expected to expand by up to 5.5 per cent this year. NESDB Secretary-General Arkhom Termpttayapaisith told journalists that the Thai economy expanded by up to 18.9 per cent year-on-year in the fourth quarter of last year, boosting the national economy to grow by 6.4 per cent on average throughout 2012, when Thailand's export growth stood at 3.2 per cent year-on-year. Arkhom predicted that the Thai economy should keep expanding by 4.5-5.5 per cent year-on-year this year, cushioned by some 11 per cent steady year-on-year growth of Thai exports, followed by household consumption and overall investment growth by 3.5 per cent and 8.9 per cent respectively; while the country's headline inflation should run at 2.5-3.5 per cent. According to the NESDB chief, whether baht appreciated or depreciated does not matter, but its stability does in order to ensure the steady and stable growth of the Thai economy, recommending that the value of the Thai currency be kept in line with the values of other regional currencies, including those of Malaysia and Indonesia, Thailand's business competitors. The NESDB chief acknowledged that positive factors for the Thai economy now include the clearer recovery of the world economy, thanks to quantitative easing measures and the rebounding Chinese economy, which should be beneficial to Thailand's export-oriented economy. (TNA)