Deputy PM Somkid: Thai economy will grow by 2.8% – 3% in 2016

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BANGKOK – Deputy Prime Minister Somkid Chatusripitak has expressed his satisfaction with last year’s economic growth and predicted that the Thai economy will expand by 2.8% – 3% compared to 2014 when the growth rate was just 0.9%.

Mr.Somkid on Wednesday said this year’s economy would be better that last year despite negative outlooks from many sectors. The government would do the utmost in steering the economy by pushing for a 5% export growth and continuous increase in the tourism sector, he said. He added that the government would focus on helping low-income people and suggested that the private sector expedite investment.

The government will also continue the Village Fund program and develop broadband Internet so that it reaches the public more.

Meanwhile, Minister of Tourism and Sports Kobkarn Watthanawarangkul said she would discuss with Deputy PM Somkid to find a special budget for the development of new tourist sites in an effort to attract more tourists to travel Thailand.

President of the Federation of Thai Industries Suphan Mongkholsuthi said he believed this year’s economic growth would increase by 3% – 3.5% and suggested that the government expedite investment in infrastructure for the agricultural sector and increase values of agricultural products.