October 21, 2008
Bangkok - Thailand’s economic growth tends to drop to below 4 percent next year since the export sector slows down due to global financial crisis.
The export growth would fall to 10 percent next year, according to Finance Minister Suchart Thadathamrongvej.
This year’s export growth remains at 25 percent.
"Thai gross domestic product for 2009 is expected to grow less than 4.0 percent due mainly to export problems," Suchart told reporters. "A slowdown of exports for 2009 is likely because of the current global financial crisis."
Thailand's key export partner is the United States while Europe is also a major market. These two regions both have been hard hit by the financial crisis.
Suchart said his finance team was also mulling introducing an inter-bank loan guarantee scheme to strengthen the banking system here, according to AFP.
