BoT confident Thailand’s GDP will grow in 2015

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Bank of Thailand (BoT) Governor Prasarn Trairatvorakul has told foreign journalists that he is confident Thailand’s gross domestic product (GDP) will grow next year due to its potential, according to BoT spokesman Chirathep Senivongs Na Ayudhya.

Mr Chirathep said Mr Prasarn told foreign media in an interview on the sidelines of the 2014 Joint World Bank-IMF Development Committee meeting in Washington that Thailand’s political situation has now eased and it should help domestic consumption return to normal.

Bank of Thailand Governor Prasarn Trairatvorakul.Bank of Thailand Governor Prasarn Trairatvorakul.

Spending in Thailand, which had slowed earlier during the unrest, should return to normal while the private sector should gain from government investment, and both would assist in boosting the economy in 2015, Mr Prasarn was quoted as telling the international media.

In addition the interim government is accelerating to reform state enterprises, local energy prices and shoring up agricultural products without government subsidies, said Mr Prasarn.

These measures should help strengthen the country’s competitiveness, he said.

On worries by foreigners regarding foreign direct investment in Thailand, Mr Prasarn told the international media that projects seeking promotional privileges from the Board of Investment had risen noticeably.

These are significant projects such as investment in manufacturing eco cars, food processing and alternative energy.