Kosit warns populist policies must be implemented with care
The government's economic stimulation efforts through monetary and fiscal policies would not work if it continues to implement populist policies in a way that prevent household debt from falling.
Bangkok Bank executive chairman Kosit Panpiemras on Thursday suggested the government cooperate with the private sector to catch up with the changes of global markets.
Kosit urged the government to closely supervise production. Thailand's economic growth rate is predicted to be 3-4 per cent next year due to its low base this year, he said.
Previous populist policies and household debt continue to heavily affect the Thai economy and prevent its growth from reflecting the real potential of the country.
Meanwhile Chokedee Kaewsang, deputy secretary general of Board of Investiment said foreign investment in the first 10 months of this year dropped by 10 per cent compared with the same period last year because Thailand could not support the investment projects that turned to use higher technologies.
He estimated the overall value of projects seeking BoI promotional privileges at Bt700 billion this year, lower than the corresponding figure last year.
The projects center on the automotive, electrical, electronic and machinery industries.
Kosit urged the government to closely supervise production. Thailand's economic growth rate is predicted to be 3-4 per cent next year due to its low base this year, he said.
Previous populist policies and household debt continue to heavily affect the Thai economy and prevent its growth from reflecting the real potential of the country.
Meanwhile Chokedee Kaewsang, deputy secretary general of Board of Investiment said foreign investment in the first 10 months of this year dropped by 10 per cent compared with the same period last year because Thailand could not support the investment projects that turned to use higher technologies.
He estimated the overall value of projects seeking BoI promotional privileges at Bt700 billion this year, lower than the corresponding figure last year.
The projects center on the automotive, electrical, electronic and machinery industries.
