BANGKOK, 26 Dec 2014, – The nation’s GDP will likely expand by 3% in the last quarter of this year and up to 4 % in the first quarter of 2015, says Deputy Prime Minister M.R. Pridiyathorn Devakula.
According to the Deputy Prime Minister, the nation’s economic performance is slowly regaining its strength and the GDP is expected to grow by 3% in the fourth quarter of this year thanks to the government’s disbursement of 700 billion baht worth of budget, increased public spending, and lower petrol prices; all of which have stimulated the private sector’s investment and employment.
The administration will continue to focus on its short-term economic stimulus policy during the next 1 – 2 months, which is expected to push the GDP for the first quarter of 2015 to 4%.
M.R. Pridiyathorn highlighted the government’s assistance fund schemes for rice farmers and rubber planters, which are expected to be completed by the end of this month.
He also said officials have put in place several measures aimed at shoring up the prices of cassava, sugar canes, and sugar, while encouraging the industrial sector to save cost by using more domestic materials in their production.