Finance minister assures Thai economy not critical, just slowing down

Finance Minister Uttama Savanayana reaffirmed today that the Thai economy this year is just slowing down and is not in a critical situation, with the likelihood that it will pick up next year.

While admitting that economic growth this year is disappointing, he said that the Government had rolled out several economic stimulus packages, such as the Chim Shop Chai program and the 50,000 baht down payment giveaway for condominium buyers.

He said he didn’t believe in the suggestion by several analysts that the Thai economy next year will reach a crisis point, adding that, in the current gloomy situation, the Government must be bolder in order to build confidence, instead of getting depressed and adversely affect the economy.

Uttama said the Government has been closely monitoring the economic situation, locally and globally, and will not hesitate to roll out additional stimulus packages to boost the economy and confidence, if they deemed are necessary.

He disclosed that the Government had pushed about 50 state enterprises, which have a combined investment budget of about 100 billion baht, to speed up their investment projects to help drive the economy.


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