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Published on March 25, 2008

Speaking at an economic seminar held by the Nation Multimedia Group yesterday, Bandid said the slowdown of the US economy might affect Thai exports but to a lesser extent than in the past, due to the declining proportion of Thai exports going to that market.

Thailand will be able to detach itself from the US economic slowdown and expand further if the domestic sector is strong, he said.

Domestic investment will increase competitiveness in the manufacturing sector and spur consumer spending, which will sustain the country's economic growth, Bandid said.

Deputy Prime Minister and Finance Minister Surapong Suebwonglee said the government today would submit to the Cabinet a direct budget of Bt18 billion for villagers and a debt moratorium for farmers.

Bidding for six of nine mass-transit rail routes for Bangkok will open this year, Transport Minister Santi Prompat said.

The bidding for the remaining three routes will take place next year, he said.

The first six routes are worth a combined Bt259 billion and the final three Bt510 billion, Santi said.

Phatra Securities managing director Supavud Saicheua said Asia could decouple from the US by boosting local economies, in order to depend less on the US market, since American purchasing power had declined.

Supavud urged the BOT to let the baht appreciate, in order to contain inflation.

The Nation/D J Newswires