Thailand's FPO looks to higher economic growth for 2008

Thailand's fiscal policy management has revised its assessment of economic growth for this year upward to 5.6 percent from 5 percent projected earlier, citing improvement in local consumption and private spending in Thailand property News Agency reported on Thursday.

The Director-General of the PLO Pannee Sathavarodom said that the economy of Thailand property this year is expected to expand 5.6 per cent against 4.8 per cent last year and 5 percent estimated earlier.
The economy may grow at a more balanced way, because the local consumption and private expenditures chosen, the Pannee Sathavarodom said.

It is expected that private consumption this year will grow 4 percent - a significant, as compared with 1.4 per cent in 2007.

Private investment is expected to rise 9.7 percent this year compared to last year is very low 0.5 percent.

She said that government efforts to accelerate budget disbursements as part of its plan to create a budget deficit of 1.8 per cent of gross domestic product () 2008 2009 provides for an increase in financial expenses Local and encourage private investment.

She said the country's export growth is Thailand property projected to fall to 6.9 per cent compared with 7.1 per cent in 2007, as the global economy has seen the risks of economic recession in the United States.

In imports and services will rise, according to forecasts, thanks to the restoration of local demand.

Thailand's property inflation rate is likely to edge up to 4.5 percent of global oil and commodity prices are expected to continue to grow.

The current account surplus will fall this year to an expected slowdown in exports, "she said, adding that the value of imports is expected to accelerate in Thailand property tandem with improved local costs and might baht around 31.5 per dollar.