Prime Minister Srettha Thavisin will hold the first meeting of economic ministers on Monday, as Thailand’s GDP growth projection for the whole year has slipped to 1.5%, the lowest among the ten ASEAN member nations.
Talking to the Thai media in Tokyo yesterday, the prime minister said that, without the tourism industry, which is boosting the Thai economy, GDP growth could be even lower and the Thai economy could enter a recession.
He said that he has instructed all parties attending Monday’s meeting to do their homework and to come up with proposals on how to deal with the economic situation. He wants them to be open-minded, adding that he does not expect the participants to just listen to his instructions.
A similar meeting will now be held on weekly basis, possibly in smaller groups, to keep abreast of the latest economic developments, said the prime minister.
Besides the decrease in the growth projection, he said that there are other pressing issues to be discussed, such as non-performing loans, credit card and household debt.
Asked whether the “digital wallet” scheme, which is scheduled to be launched later this year, will stimulate the sluggish economy, the prime minister said that it can help to a certain extent, but not that much.
He reiterated that the meeting is not intended to reprimand specific individuals, but to share opinions and ideas.
The prime minister is winding up his latest international tour and is currently in Japan. He is due back in Bangkok this Saturday and plans to tour Bangkok and Ayutthaya this Sunday.
