ID :
378067
Mon, 08/24/2015 - 09:28
Auther :

New DPM:Thailand's economic fundamentals remain strong

BANGKOK, August 24 (TNA) - New Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, says that Thailand's economic fundamentals remain strong and careful management should sustain national economic growth. After discussing economic issues with Prime Minister General Prayut Chan-ocha at Bangkok's Government House on Monday morning, Somkid told journalists that national economic solutions must begin with increasing the purchasing power of farmers who are facing low prices of farm products amid rising costs of living. Somkid stressed that he plans to help farmers and increase their purchasing power, as their stronger purchasing power would then let the local private sector survive. Somkid acknowledged that his new team of economic ministers will, thus, ask the Thai Cabinet to approve farmer assistance measures and invite the private sector to help stimulate the national economy. The deputy prime minister explained he will ask the Cabinet to approve short-term economic measures to create cash flows in the national economic system and will also implement long-term economic development measures, proposed by the National Reform Council (NRC). Apart from low prices of local agricultural products, the deputy prime minister noted, economic problems of other countries have also had negative impacts on the Thai economy. The new deputy prime minister pointed out that the Thai economy has depended on exports and economic stimulation from the center of the nation and the government is, therefore, distributing infrastructure development to provincial areas to stimulate economic growth in all 76 provinces nationwide simultaneously. The deputy prime minister will reportedly meet representatives of the private sector, including those of the Federation of Thai Industries (FTI), the Board of Trade of Thailand and the Thai Bankers Association on August 27 to explain his economic policies and ask them to help solve economic problems. The deputy prime minister confirmed that economic ministries share the same direction of work to effectively solve domestic economic problems. (TNA)

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