Economy not in worrisome state: Kittiratt
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Deputy Prime Minister Kittiratt Na-Ranong on Tuesday sent out a comforting message on the Thai economic condition.
At the Cabinet meeting, he told other ministers that the economy is not entering recession as it still shows growth compared to the same period last year.
He also noted that there is still time to boost the economy, to lift the full-year growth. He admitted that it depends much on government spending and measures to boost export.
"The Thai economy is not in a worrisome state. All should not be panic," he said.
He also plans a brainstorming session with the Comptroller General's Office and the Budget Bureau, on government spending projects. Meanwhile, the 2014 budget bill should win parliamentary approval next week.
Meanwhile, Bank of Thailand governor Prasarn Trairatvorakul said that Thailand should show a quarter-on-quarter growth in the third quarter.
He is convinced that the economy would show positive growth in the latter half.
"Looking deep into the NESDB indicators, investment remains positive despite slowing consumption," he said.
