Thai PM Foresees 2010 Growth

In an exclusive interview with Reuters, Thai Prime Minister Abhisit Vejjajiva said on Monday Thailand's central bank had cut interest rates to the maximum (amount) and he saw the economy returning to positive growth by the end of this year.

[Abhisit Vejjajiva, Thai Prime Minister]:
"We'd like to see growth back in positive territory by the end of the year. And maybe something like two percent growth next year."

The Bank of Thailand surprised financial markets at its last meeting in May by leaving its policy rate steady at 1.25 percent when a 25-basis-point cut had been widely expected to aid recovery from the global downturn.

On the issue of tension along the Thai-Cambodia border over the ancient Preah Vihear temple, Abhisit said the two countries have agreed to resolve the issue without violence.

[Abhisit Vejjajiva, Thai Prime Minister]:
"And we agreed that number one we'll try and resolve this without violence, without clashes. And number two, we will not allow this one issue to cloud over various schemes and projects of cooperation that Thailand and Cambodia will move ahead with."

The Thai Prime Minister said the social and political rifts that have plunged Thailand into a three-year crisis can be healed, and played down the risks of further tension over a royal succession.

The military ousted former prime minister Thaksin Shinawatra in a 2006 bloodless coup and the one-time telecoms tycoon now lives in self-imposed exile.

When asked if he would consider a deal with his nemesis, he said the point was that Thaksin broke the law.

[Abhisit Vejjajiva, Thai Prime Minister]:
"Former prime minister has broken the law, he is being convicted by the courts and so he has to accept the consequences of his action the way any other Thais would have to. That's my job."

44-year-old Abhisit became Thailand's prime minister last December, coming to office through parliamentary
defections the opposition says the army engineered.

His intellect and overseas education made him a favorite of the foreign business community, but cut little ice with the rural northeastern Thais who formed the backbone of support for Thaksin.

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[tatchomrern]

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[tatchomrern]

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