November 4, 2009 -- The Thai economy has begun to bounce back from the recent crisis, the World Bank said. But Thailand’s dependence on the economies of Europe, Japan, and the U.S. – all of which are healing slowly – means the country’s economic outlook in the near term remains uncertain. To ensure that future growth would be more balanced and sustainable, the government should invest in both "hardware" (infrastructure) and "software" (education reform, services sector competitiveness) to stimulate private investment, and create sustainable social safety nets. Â
These could cushion the impact of future crises and remove constraints to domestic consumption, the World Bank recommended in its latest review of the Thai economy, Thailand Economic Monitor. The Bank said its forecast for Thailand’s 2009 gross domestic product would remain at the -2.7 percent level that it had predicted in April. Still, this year’s contraction would be Thailand’s first since 1998. | 
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