Economy on the right track but challenges stay: Somkid
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THE economy has bottomed out and the country’s economic development is on the right track, Deputy Prime Minister Somkid Jatusripitak said Thursday during a government performance evaluation.
When the National Council for Peace and Order (NCPO) took power two years ago, GDP stood at 0.8 per cent, Somkid said. The present government took two years to steer the country to 2.8 per cent growth last year due to cross-sector cooperation.
Despite the economic revival, Somkid said some people still believe there has not been a recovery because it had not yet spread to the grassroots level, especially farmers, who still have low incomes.
Moreover, the global economy is still sluggish, which has affected Thailand’s export sector, while the domestic private sector is not investing enough. Domestic investment is waiting for a full economic recovery before committing.
Somkid added that he had already consulted with Prime Minister Gen Prayut Chan-o-cha and the Finance Ministry on how to boost farmers’ income and reduce their household debt.
