MOF upgrades 2007 GDP to 4.5%

Pannee Sathawarodom, director general of the Finance Ministry's Fiscal Policy Office, said on Tuesday that the ministry has upgraded 2007 GDP growth forecast to 4.5 per cent from forecast done in August at 3.8-4.3 per cent.

She said the higher-than-expected export growth in October at 26.7 per cent in terms of dollar to its record high at US$14 billion has made the ministry upgraded the GDP forecast.

This year the current account surplus will be as high as 5 per cent of GDP, she said. The export growth in 2007 is likely to grow 15.7 per cent in terms of dollar value, while next year is expected to grow 10.7 per cent.

Pannee said 2008 GDP growth is expected to be 5 per cent to be driven by government spending and exports to new markets such as the Middle East.

The inflation rate still remains low at 2.2 per cent this year for headline inflation, and 4 per cent for next year. - The Nation

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MOF upgrades 2007 GDP to 4.5%

Pannee Sathawarodom, director general of the Finance Ministry's Fiscal Policy Office, said on Tuesday that the ministry has upgraded 2007 GDP growth forecast to 4.5 per cent from forecast done in August at 3.8-4.3 per cent.

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