"The Bank of Thailand sees growth of between 4.5-5.0 percent this year, but if we can manage it right it could be 7.0 percent growth without any overheating," Kittiratt Na-Ranong said in an interview with the Wall Street Journal. Earlier this month, Prime Minister Yingluck Shinawatra predicted that the kingdom would see growth of about 5.0 percent in 2012, marking a sharp pick-up from 2011 when the export-reliant economy grew 1.5 percent, according to government estimates. Months-long floods last year took a heavy toll on Thailand's industrial heartland north of Bangkok, with many factories forced to close temporarily. Kittiratt said that he anticipated export growth of 15.0 percent this year and increased consumer spending thanks to a rise in the minimum wage.