PM vows not to let politics block economic recovery

BANGKOK, 19 November 2009 (NNT) – Prime Minister Abhisit Vejjajiva has declared not to let domestic political standoffs hinder the government from solving national economic problems.

Speaking in a speech under the topic ‘From Strong Thailand to Sustainable Thailand’, the prime minister admitted that political differences remained a challenge for economic problem alleviation. However, he stressed that everything must comply with the law for balance and reiterated that the government would tackle corruption for sustainable economic growth.

Prime Minister Abhisit also noted that the government would address other challenging issues such as the price of energy, food and environmental problems at the same time. The government aims to make 20% of the total domestic energy usage to be alternative energy by 2020.

The prime minister elaborated on the connectivity of the Thai economy with the global community, especially regarding the establishment of the ASEAN Economic Community in the next six years. He said Thailand must utilize this opportunity as the ASEAN chair to strengthen the domestic economy. The last challenge he mentioned was the adjustment of the financial structure for senior citizens.

Prime Minister Abhisit still voiced confidence that the Thai economy in the last quarter would turn positive compared to the last quarter last year. GDP for 2009 will contract by 3-3.5% and the figure next year will move to a positive territory of 3.5% as expected by many parties. He added that the government might revise its plan to seek loans if the economy was good.