Thai economy to be boosted by domestic factors in 2013

BANGKOK, December 4 (TNA) - The Thai Chamber of Commerce says that the national economy is likely to be mostly stimulated by domestic factors next year, as the world economy should remain plagued with problems. Thai Chamber of Commerce Chairman Pongsak Assakul predicted that the Thai economy should grow by 4-5 per cent next year, boosted mainly by domestic factors including telecommunication businesses, like 3G mobile phone services, construction projects related to government-supported water management plans and the insurance sector. Pongsak acknowledged that Thailand's export growth should be, again, limited in 2013, due to pending economic problems in major markets, namely the United States, European countries and Japan, and impacts from a daily minimum wage hike to 300 baht across the country, and that the Thai Chamber of Commerce would, therefore, promote and push for expanding border trade to help propel the national economic growth. For this year, the Thai Chamber of Commerce chair foresaw that the Thai economy should expand by 5.5 per cent on average this year, given impacts from the lingering economic crises in Europe and the United States. (TNA)