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Article: Rising world oil prices might cut Thai GDP growth: says veteran

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Xinhua News Agency
Article date:
May 10, 2004
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Rising world oil prices might cut Thai GDP growth: says veteran

BANGKOK, May 10 (Xinhua) -- Rising oil prices in the world market might reduce this year's gross domestic product (GDP) growth of Thailand by almost 1 percent, as people are likely to consume fuel at high prices until the year-end, according to a veteran in the oil industry.

Piyasvati Amaranand, former secretary-general of the National Energy Policy Office, was quoted by the Thai News Agency as saying Monday that the continued rise in global fuel prices would unavoidably affect the country's economic growth although the government had resorted to capping local prices of fuel.

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