BOT to revise Thailand's GDP in 2013 up

BANGKOK, December 29 (TNA) - The Bank of Thailand (BOT) will, early next year, revise its projection of the national economic growth rate in 2013 upward, thanks to several positive factors. Methee Supapong, BOT's senior director for financial economic policy, said on Friday that the central bank will likely raise its estimation for Thailand's gross domestic product (GDP) growth next year in January 2013, from 4.6 per cent in its projected figure currently. Methee attributed the BOT's planned upward GDP projection to declining internal and external risk factors but increasing positive factors due to the Thai government's economic stimulus measures, through speeding public investment projects, resulting in rising domestic consumption and private investment. The BOT senior director acknowledged, however, that Thailand needs to keep monitoring impacts from rising capital inflows caused by the Japanese government's new relaxing and economic stimulus measures, as well as such internal risk factors as domestic political issues and impacts from the government's policy on 300-baht daily minimum wage hike equally in all areas across the country as of January 1, 2013. Meanwhile, the Kasikorn Research Centre (KRC) has indicated seven Thai industries with most outstanding growth in 2013, including automobile, information and communication technology or ICT, especially those related to 3G networks and digital TV, construction, transportation, rubber, health tourism and private hospital services. The Bangkok-based private think tank has also foreseen Thai business sectors with moderate growth in 2013, namely property, food, retail, production of electronic and electrical appliances, as well as energy and tourism and hotels. (TNA)