Mr. Satit Rungkasiri, Director-General of Fiscal Policy Office, revealed that “Thai economy in the month of March 2010 steadily expanded as reflected by the high growth of export value at 40.9 percent per year as well as continued improvement in domestic spending. Real term VAT increased at 27.6 percent per year while capital goods import grew considerably at 47.6 percent per year. However, political situations in the country have started to impact the economy as recorded by the slower growth of in-bound tourist number at 41.9 percent per year while Consumer Confidence Index and Thai Industries Sentiment Index for March 2010 also declined.”
Dr. Ekniti Nitithanprapas, Director of Macroeconomic Policy Bureau and Ministry of Finance Spokesperson, further elaborated that “Continued development of Thai economic indicators for March 2010 resulted in a higher than-expected expansion for the 1st quarter of 2010. This in part came from the global economic recovery, which caused high export demand, altogether with recent expansionary fiscal and monetary policies, which supported private spending for both consumption and investment.”
Director-General of Fiscal Policy Office concluded that “Thai economy in the 1st quarter of 2010 should improve continually from the quarter before. Although political situations may not yet affect the economy in the 1st quarter of 2010, it is expected that the growth of Thai economy will slow down in the 2nd quarter should the situations be prolonged.”
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