Thai economy to improve despite risk factors

BANGKOK, Jan 19 (TNA) – The Thai economy this year is projected to pick up this year although there remain certain economic risk factors, according to Ministry of Finance spokesman Ekniti Nitithanprapas.

Speaking at a seminar on “A Creative Economy for a Strong Thailand,” he said the economy this year would outpace that of last year in terms of growth, boosted by the global economic recovery and the implementation of the Thai Khem Keng (Strong Thailand) Scheme under which up to Bt350 billion would be injected to stimulate the economy in various sectors.

He allowed that some risk factors including significant fuel prices, a stronger baht, slow investment and Map Ta Phut Industrial Estate problem would dampen the economic expansion.

However, the injection of the Thai Khem Keng budget into various projects would help turn the economy around. It is expected the gross domestic product (GDP) would grow at least 3-4 per cent, bolstered by improved private consumption, higher farm product prices, and increased inflation rates.

Mr Ekniti said what the government should speed up coping with now is the Map Ta Phut case.

He believed the problem would not affect the economy in the short term, but the government must step up efforts to clarify any doubts cast by investors over the viability of many projects to reduce private investment uncertainties. (TNA)