PM expects 6% expansion in the economy

BANGKOK, 23 June 2010 (NNT) – The Thai economy is speculated to expand by 6% after remedial measures have been implemented for rally affected businesses, according to Prime Minister Abhisit Vajjajiva.

The Prime Minister on Wednesday disclosed that the government had been trying to restore investors’ confidence after the anti-government rally took place during the past months. Investment safety and remedial measures for affected businesses have been highlighted by his government.

The Prime Minister stresses that foreign investment is essential for the Thai economy. He urges the sector to continue using the country as its production base.

Following the government’s retention of the Emergency Decree, Mr Abhisit reasoned that the prolonged imposition of the decree was only to make sure that the country is free of serious crimes and that the development can continue. The Emergency Law does not deprive the rights of the people, the Prime Minister stressed.

He added that the government economic policy was deemed successful considering growth in national economy despite internal political risks and economic crisis in Europe.

The Thai economy is speculated to expand by 4.5-5.5 % after the government stimulus policies are utilized. Mr Abhisit, however, is confident that the overall expansion will reach 6% in 2010.