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UNCTAD chief foresees 6% Thai growth in 2013
Thailand’s economic growth this year will be at least six percent thanks to
successive export expansion, the head of the UN Conference on Trade and
Development (UNCTAD) projected last week.
Secretary-General Supachai Panichpakdi said the strengthening Thai baht will
positively contribute to increased import of capital goods while local
consumption will rapidly increase.
The state’s Bt2 trillion investment in infrastructure will be launched as
planned while tourism growth will be better than targeted, he said, adding
that Thailand’s public debt at 40-45 percent of gross domestic product (GDP)
is stable as it remains lower than the risk figure of 50 percent.
He pointed out that there has been concern on inflow of various categories
of capital, especially in property, or condominium investment in particular,
and the stock and bond markets.
The Bank of Thailand was urged to intervene in the currency movement to
prevent asset prices from rocketing far beyond their fundamental values,
while loans to certain categories of business are excessive, sending an
early signal of a possible bubble, he said.
Supachai added that the continuous inflow of foreign capital in the past
year was due to the quantitative easing by the United States and European
Union to trim down unemployment to below 6.5 percent from the present 7.7
percent, which has impacted Asia in general, not only Thailand.
He called on the central bank to closely monitor the inflow and outflow of
foreign capital. (MCOT)
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0% loans during
Kasikorn’s Money Festival
Deputy Mayor Verawat Khakhay (center) and bank
deputy director of service and sales Thonakrit Bunyathawornchai (center,
right), along with management and staff signal the beginning of Kasikorn
Bank’s Money Festival.
Thanachot Anuwan
Kasikorn Bank is offering no-interest home, car and personal loans
throughout the summer as part of its Money Festival.
Deputy Mayor Verawat Khakhay and bank deputy director of service and sales
Thonakrit Bunyathawornchai opened the promotion at Kasikorn’s Sukhumvit Road
branch March 9.
Through Aug. 31, the bank will charge 0 percent interest for three months on
car and home loans and six months on personal loans. Those applying during
the Money Festival for “convenience cash” also will receive a Doraemon doll,
while businesses applying can get up to 3,000 baht cash back.
The promotion, Thonakrit said, was to thank the Pattaya area for boosting
its transactions by 20 percent last year.
Kasikorn operates 17 branches in the Pattaya area. For more details, call
02-888-8888.
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