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BANGKOK, Jan 5 - Thailand's economy will grow 4-5 per cent this year and stabilise soon unless there is a repetition of this week's bombings in the capital, according to the Bangkok Bank's Macro-Economic Analysis Centre.
Analysing impacts of the New Year's Eve bombings in Bangkok, the centre said it is confident the government would manage to bring the situation under control and restore confidence soon.
So, it maintains its projection for an economy expanding at 4-5 per cent although the incidents will affect private spending, stock investment, and tourism.
Private spending -- including investment and consumption -- accounts for more than 70 per cent of the gross domestic product, followed by tourism and foreign direct investment representing 5.5 and 4 per cent of GDP respectively.
It said the incidents would have limited impact on the Thai economy unless they occur repeatedly.
Also, the economy is likely to grow 4-5 per cent this year as earlier targeted and become stable soon since impacts of the bombings on the private spending would last only in for the short run.
"Should the situation return to normal quickly, it is expected that private spending and stock investment will improve soon," said the centre.
It forecast the tourism would be affected in the first two months of this year since it is a last period of the high season.
It could recover in the second half of this year at the latest if the situation returned to normal.
However, should the situation continued unabated or worsen, it would make private spending, foreign investment, and tourism slow down and the overall economy expand only 3-4.5 per cent this year. (TNA)
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