July 15, 2008
Bangkok - Finance Minister Surapong Suebwonglee is confident the economic growth in the first half will reach 6%. But the growth can slow down in the last six months of the year.
The government set the growth target at 6% for this year.
"If oil prices keep rising, that will affect our GDP," Surapong told reporters.
Global oil prices are hurting economies around the world, making the inflation higher than expected.
Thailand’s inflation hit a 10-year high of 8.9 percent in June. The Bank of Thailand warned it could reach double digits this month.
The government plans to cut 0.50 baht per litre of the excise tax on the E85 fuel.
