Economic growth could slow down in 2H: Thai central bank BOT

17:05, July 21, 2010      

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As Thailand's economy in the second half of 2010 is forecast to continue growing, its growth rate would not be as high as the first six months of the year, Bank of Thailand (BOT) deputy governor Bandid Nijathaworn said on Wednesday, the Bangkok Post's website reported.

Thailand's government's economic stimulus measures and the recovering but highly unpredictable global economy will further boost the Thai economy, Bandid said.

It is essential to closely monitor three factors in the world economy, including the U.S's high employment, the commercial banks' refusal to grant loans to other banks, and the decreasing financial privileges due to concerns over the European public debt crisis. European countries have to reduce spending in a move to tackle their public debt burden.

China could also see a slowdown in its economic growth, which could hamper the global economy, he said.

"These problems will likely hold back economic growth and we'll have to see if the impact will be more serious than expected, but the overall economy will continue to improve," the deputy governor said.

Meanwhile, he has warned "though the Asian economy is the main force driving the world economy, there are challenges as the world economy is divided into two groups -- the Asian countries that see continuous growth and the industrialized countries that experience a slowdown."

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