Growth of GDP in Q4 reached 5,7 % (year-on-year).
Growth of GDP in Q3 was revised down (4,8 from 4,9 %).
So to summarize :
Q1 4,2 % (y-o-y)
Q2 4,3 %
Q3 4,8 %
Q4 5,7 %
Therefore, the growth of GDP for 2007 was 4,8 % (compare to 5,1 % in 2006).
Quick comment :
Private consumption and investments remain very weak. Government’s expenses increase a lot (particularly wages), and exports are red hot.
So the overall situation of thai economy remains the same. The pace of growth is decreasing.
Due to a base effect, I do not think that the growth in 2008 can be higher. It’s going to be difficult to have again a +16 % growth for exports…
And this is precisely why the new government is obsessed with “mega projects” (to inject a few hundred billions THB into the economy).
It could be the only life jacket to save GDP growth this year.
More details and charts … later.
Last point : the deflator (ratio of nominal GDP to real GDP) explodes at 5,8 %, against 2,1 in the previous quarter. It means : prices increase.
My point : the BOT has its next meeting for monetary policy on february 27… I don’t see how they can cut interest rates with such numbers. 
(complete report of NESDB, here , and statistical tables there).
On a more optimistic tone :
The money borrowed to finance megaprojects will weaken the bath, thus boosting exports.
… I don’t really agree. Because this money will be borrowed on the domestic market.
Well this is the theory. The gvt wants to issue bonds, long term, that insurances companies would be eager (this is what they’re saying) to buy.A fraction of the total cost would be borrowed outside, with the famous loan from the Japan Bank for International Corporation (apparently the deal should be okay).
Anyway : it’s too late. I mean we are already end of february, they are still talking about the plans (how many lines ?), the financing schemes… It’s always the same story : talking.
Can we believe that the money will flow in 2008 ? I seriously doubt it.
Furthermore, this government is a joke.
Did you see the decision this morning ? Red card from the EC to the president of parliament (fraud at last elections).
Now the case goes to Supreme Court.
In a nutshell : the party of the majority could be DISSOLVED ! Nothing less.
How in such precarious conditions do you want :
-a government doing properly its job
-investors feeling confident and willing to invest ?
No way.