Finance Minister Pichai not happy with 2.5% growth projection
NESDC forecast of 2.5% GSP growth this year leaves Pichai unimpressed, says neighbours passing 5%
Deputy Prime Minister and Finance Minister Pichai Chunhavajira said Tuesday that the government could not be content with the projection of 2.5% economic growth this year, according to the government spokesman.
Chai Wacharonke said the Cabinet acknowledged the economic data of the Office of the National Economic and Social Development Council in its weekly meeting on Tuesday.
On Monday the NESDC Office announced that GDP in the first quarter of this year grew 1.5% and the NESDC has lowered its projection for this year slightly to 2-3% from 2.2-3.2%, with 2.5% as the median value, mainly due to the risks posed by the ongoing US-China trade war and geopolitical conflicts.
Chai quoted Pichai as telling the Cabinet that the government should not be happy with 2.5% growth even though it would be higher than last year.
“We should not be happy with it but we should find measures to stimulate growth to be higher than 2.5%,” Chai quoted Pichai as saying during the Cabinet meeting.
Pichai also noted that several neighbouring countries had reported annualised growth higher than 5%, so Thailand should aim for more than 2.5%.
