Thai GDP unaffected by oil prices

Finance Minister Surapong Suebwonglee is confident that the recent spikes in oil prices would not hurt Thailand's 2008 gross domestic product (GDP).

"The GDP growth rate of 4.5-5 per cent is based on conservative assumptions," he said on Friday.

"However, if the upward movement continues, we might need to review the figures," he noted.

Oil prices have risen above US$100 per barrel, on fears that the US economy would suffer a blow from the sub-prime mortgage crisis and the entire world would be affected by the spill-over effects.

On the 30 per cent capital reserve requirement, Surapong said that if the Bank of Thailand's data is complete, the ministry is ready to immediately make a decision if to maintain or abolish the measure. The Bank of Thailand is scheduled to submit the required data within 1-2 weeks.

- The Nation

Krungthep Land gets $19m
Lombard Investments has announced it will invest US$18.9 million (Bt615 million) in Krungthep Land, one of....
Nokia wins contract
Nokia Siemens Networks has won a contract to expand leading mobile-phone operator AIS's GSM network, the....

Thai GDP unaffected by oil prices

Finance Minister Surapong Suebwonglee is confident that the recent spikes in oil prices would not hurt Thailand's 2008 gross domestic product (GDP).

OTHER BUSINESS

Krungthep Land gets $19m

Nokia wins contract

Top Stories