More Udon Thani
Sign in or register and then post away to your hearts content.
Share your views and Knowledge of Udon and Thailand with the world!
Thank you for joining!

Topics about Udon Thani Thailand, and all of Thailand
HomeHome  PortalPortal  CalendarCalendar  GalleryGallery  FAQFAQ  SearchSearch  RegisterRegister  Log in  

<!-- End Feedzilla news widget Code


Display results as :
Rechercher Advanced Search
Top posters
Udon Thani

Share | 

 World bank upgrades Thailand income categories

Go down 

Posts : 88
Reputation : 5
Join date : 2009-11-11

PostSubject: World bank upgrades Thailand income categories   Fri Aug 19, 2011 9:02 am

Thailand has been upgraded from a lower-middle income economy to an upper-middle income economy, with a GNI per capita of US $ 4.210. The World bank stresses Thailand to avoid the middle income trap and pay attention to raising the productivity of manufacturing, agriculture and services sectors. Thailand's economy has grown steadily for nearly a decade and poverty has been reduced. Despite last year's unrest, the country grew over 7% .

The new government of Yingluck Shinawatra is determined to push ahead with populist programme, such as increase in minimum wage of ($10) a day, this would mean an increase of 90% in some provinces. Economists warn this could trigger higher inflation and hurt small businesses. These firms say they would not be helped much by a cut in corporate tax from 30% to 23%.

The central bank goal is to hold core inflation, which excludes fresh food and energy prices, in a range of 0.5 to 3.0% and it sets monetary policy to achieve that. Inflation hit 2.59% in July, approaching the limit. New Finance Minister said his ministry would look at the central bank's inflation target, which guides monetary policy, to see whether it was causing problems for the economy.

The world bank upgrade is seen as an opportunity for Thailand to show investors that despite the political turmoil of 2010, it has achieved economic stability. Economists say inflation remains high and the new government challenges will be increasing people's income and holding down the cost of living.

Back to top Go down
World bank upgrades Thailand income categories
Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
More Udon Thani :: Thailand Hot Spots! :: Thailand anything-
Jump to: