Govt to stimulate economy rather than give more free public services

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BANGKOK, 12 July 2013 The government has pledged to work harder amid the sluggish global economy by stimulating the domestic economy through government spending, private sector investment and consumption. 

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said on Friday there was a possibility that the government would cut its growth forecast this year from 4.5-5.5%. In order to help the economy expand continually, the government would impose stimulus measures while reducing the country’s export dependency, the minister said.

The government on Friday conducted a workshop participated by economic related agencies to discuss the global economy and guidelines to control the cost of living. The workshop focused on the measures to improve industrial manufacturing instead of seeking to decrease the cost of living by providing free public services and utility price cut.