Somkid to ignite all economic drivers

Deputy Prime Minister Somkid Jatusripitak delivers a keynote

speech on economy at a forum organised by the Economic

 Reporters Association on Wednesday.

 (Photo by Somchai Poomlard)

All economic engines must be ignited this year to spur the

economy, which cannot rely only on government spending

to propel growth, Deputy Prime Minister Somkid Jatusripitak

 said on Wednesday.

Government expenditure was key to lifting the economy out of

 the slump last year, finance czar said. He promised to restore

export growth, increase tourism and boost investment spending

to generate higher  growth this year.

 To do this, making all economic "engines" work was the

task the government had set for this year, he said.

"The mission of the economic team this year is to keep the

 momentum going. All (economic) engines have to run in

 full swing," he told a forum organised by the Economic

 Reporters Association.

The government had doled out cash to help the grassroots and

 introduced measures to spur consumption and help small- and

medium-sized enterprises since Prime Minister Prayut

Chan-o-cha revamped his economic team in August.

The bright spot to date was tourism, which exceeded the target

 of 29 million visitors last year and Tourism and Sports Minister

 Kobkarn Wattanarangkul expected more to come here

 this year, he said.

The Bank of Thailand expected final figures would show

 the economy expanded by 2.8% last year, but projected 3.5%

 growth by the end of this year. The forecast was in line with

 two other state agencies, Mr Somkid said.

 The National Economic and Social Development Board expected

 the economy to expand in the range of 3-4%, while the Fiscal

Policy Office under the Finance Ministry targeted a 3.8% increase.

 Export figures for 2015 were expected to show a 5% contraction

 attributable to the weak global economy, but the Commerce

Ministry had said it expected a turn around to positive territory

of around 5% this year. Mr Somkid said the Commerce

Ministry's target is attainable and showed confidence in

 a better economic outlook for this year.

News,Business News,Bangkok Post,6 January 2016.

 

To boost the economic by government expenditure, restore

 export growth, increase tourism and boost investment spending

 to generate higher  growth ,all are good plan.

To achieve this goal all function and authorities should do

 their best to  support it because these are the limitation

 to succeed.

 

Hope all can get along well and the economic team can stimulate

the economic growth.

 

Sincerely Yours.