Kittirat: 2.2 trillion baht loan will boost GDP growth

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BANGKOK, 12 March 2014  The Finance Minister believes the 2.2 trillion baht mega infrastructure project will trigger the country’s GDP growth. 

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong posted on his Facebook account, saying the 2.2 trillion baht investment would propel the nation’s GDP by more than 3%.

According to him, the 2.2 trillion baht infrastructure project will have a number of benefits to the economy, as he expects Thailand’s GDP will expand by 1.0 percent per year for the next seven years if the proposed loan is approved.

Furthermore, the loan is expected to generate at least 500,000 addition jobs for Thais, adding that the investment will also reduce logistics costs by no less than 2 percent and will save the country more than 100 billion baht per in terms of fuel costs, said Mr. Kittiratt.