FTI:Thai economy recovering

BANGKOK, November 12 (TNA) - The Federation of Thai Industries (FTI) says that the Thai economy has been gradually recovering, thanks to the government's economic stimulus measures. Speaking at a business seminar held in Bangkok on Thursday, FTI Chairman Supan Mongkolsuthee told participants that Thailand’s economic situation in 2016 should be better than this year, boosted by the government’s economic stimulus measures, aimed at promoting investment and supporting more infrastructure development projects. However, Supan acknowledged, seasonal drought, if more severe, could pose negative impacts on Thai farm products with declining prices. According to the FTI chief, the Public-Private Joint Committee is scheduled to meet next month to revise Thailand's gross domestic product GDP) for 2015 and 2016. The Public-Private Joint Committee earlier forecast that Thailand’s GDP in 2015 should stand around 2.5–3 per cent. The FTI chief also projected that Thai exports to Cambodia, Laos, Myanmar and Vietnam next year should be higher than this year. Meanwhile, Issara Wongkusolkit, Chairman of the Thai Chamber of Commerce and the Board of Trade of Thailand, also forecast that the Thai economy in 2016 should be better than 2015, cushioned by recovering public confidence. Issara also expressed his support for Thai Prime Minister General Prayut Chan-ocha's inspection of government-sponsored development programmes in upcountry more frequently and for the government's explanation to people, especially farmers, on water conservation and wise consumption. (TNA)