PM predicts ‘V’ shaped growth

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The Thai economy in 2012 is expected to recover in a “V” shape and gross domestic product growth should reach five per cent year-on-year, Prime Minister Yingluck Shinawatra said Wednesday.

“The government has set the economic growth target for this year at five

Bangkok Post

per cent and believes that all economic sectors will be revived within the second quarter following the great flood last year,” Ms Yingluck said.

In her keynote speech on “The Thai Economy in 2012” delivered to a seminar on “Decoding 2012 GDP”, organised at the Dusit Thani hotel by the Economic Reporters Association, she said the government had to issue an executive decree to seek 350 billion baht in loans in order to restore the confidence of foreign investors.

She said the government will rapidly implement flood prevention projects to restore the confidence of investors and prevent them from moving production bases to other countries.

The fund will be for financing mega-projects on water management and preventing a recurrence of last year’s flood crisis. If the government fails to do this, foreign investors might move out their production …

Full story from Bangkok Post at http://goo.gl/vxIA8