PM dismisses economic recession, saying growth only missing target


BANGKOK, 23 August 2013 Prime Minister Yingluck Shinawatra has affirmed that the Thai economy is not in recession but the current growth is below expectations, saying other countries in the region are having the same economic problems as Thailand. 

Following criticisms on the recession, the prime minister said the government was not ignorant about the country’s economic problems. The government had prepared solutions to deal with the problems since two weeks ago such as expediting budget spending in the public sector. The government would also talk with the private sector on investment cooperation, the PM said.

Ms Yingluck called on all business sectors to help boost public confidence by publicizing their spending plan and future investment. She said the Thai economy had slowed down especially in the second quarter because it had many holidays.

As for the export sector, the PM said she had instructed Deputy PM and Commerce Minister Niwatthamrong Boonsongpaisarn and relevant units to discuss with entrepreneurs in each sector plans to seek new markets on a long-term basis.