Mega projects to be considered in early fiscal 2015


The National Council for Peace and Order (NCPO) plans to consider implementing mega-transportation projects in early 2015 fiscal year, starting this October 1, in order to boost the investment atmosphere in Thailand, said army chief and NCPO leader Gen Prayuth Chan-ocha.

Speaking during his pre-recorded weekly address and telecast late Friday, Gen Prayuth said details of mega-transportation projects, carried over from the previous defunct government, such as the planned extension of skytrain routes and construction of dual-rail tracks, have been furnished by the State Railway of Thailand and the Transport Ministry.

They will be considered by NCPO “soon,” said Gen Prayuth.

On the general Thai economy since May 22  —  the day that NCPO seized power in the country — up until now, Gen Prayuth said it has started improving and this could be seen from investments, which is on the rise.

He cited a report issued earlier by the Federation of Thai Industries saying that the Thai Industries Sentiment Index in May rose to 85.1, which was the first increase in seven months.

The tourism industry has also begun to recover as more foreign tourists have started visiting the kingdom, he said.

On the government budget for fiscal 2015 which is set aside at Bt2.575 trillion, carrying a deficit of Bt250 billion, Gen Prayuth said the deficit would be slightly more than in the current 2014 fiscal year.

He said the deficit budget is necessary as it has to be in line with current global economy and to also “stimulate local economy” which could help increase the people’s income and improving livelihood.

“Global economy has not improved yet and it might affect Thailand’s economy. For example, export, investment and [domestic] consumption,” said Gen Prayuth, adding that the NCPO would monitor the country’s economy closely and it might consider increasing state expenditure budget during the middle of the 2015 fiscal year, aimed at  creating new jobs to further boost household income.