PM sees Thai economy improving in 2nd half this year

BANGKOK, Aug 2 (TNA) — Citing positive views on Thailand’s economy by Japanese and domestic business associations, Prime Minister Abhisit Vejjajiva said Sunday he is optimistic that the Thai economy will improve during the second half of 2009.

Speaking during his weekly television and radio address, Mr. Abhisit said there are signs that the domestic economy will recover during the second half of this year as indicated in surveys conducted by the Japanese Chamber of Commerce, Federation of Thai Industries (FTI) and the Listed Companies Association.

He said most investors in the industrial sector are confident that Thailand’s economy would improve which is in line with his government’s projections.

Besides that indices on the securities market and on unemployment as well as the government’s revenue also showed signs of improvement, Mr. Abhisit said.

Previously, the government forecast that its revenue collection would decline about Bt300 billion below the target but it is now estimated that revenue will fall only some Bt200 billion, he said.

“The situation may not be as bad as many have thought earlier,” said Mr. Abhisit, adding there are positive signs that the economy is improving, and his government is not sitting idly but is working hard to make sure that economic problems are solved in accordance with the government’s economic recovery plan. (TNA)