BANGKOK, 1 January 2013 The President of the Federation of Thai Industries (FTI) has predicted that the Thai economy in 2013 would be healthier than last year due to a number of strong internal factors.
FTI President Phayungsak Chartsuthipol, on Tuesday, said that the 2013 GDP growth in Thailand is estimated at 5% as a result of strong and balanced economy, the country’s major infrastructure investment plans and healthy domestic consumption.
Mr. Phayungsak also noted that, in spite of a likely contraction in Thai exports in 2013, the overall economic outlook will remain intact.
However, Mr. Phayungsak said that there are some risk factors, which need to be constantly monitored next year, such as problems related to raw materials, rising oil price, volatile foreign exchange rates and political uncertainties.
The FTI President stressed that these factors may shake local economy and add more pressure on Thai exports.
Accordingly, he is urging SME operators to consider forming clusters and creating networks to connect with large entrepreneurs in order to help strengthen their businesses.
