Government:Thai economy should grow 3.5–4.5% in 2015

BANGKOK, April 17 (TNA) - Buoyed by a sharp increase in foreign tourists visiting Thailand during the first quarter of this year and public investment plans, the interim government is optimistic that Thailand's gross domestic product (GDP) should grow by 3.5–4.5 per cent in 2015. Deputy Transport Minister Arkhom Termpittayapaisith, who is also Secretary-General of the National Economic and Social Development Board (NESDB), told a meeting of economic ministers, chaired by Prime Minister General Prayut Chan-ocha in Bangkok on Thursday, that the Thai economy has shown positive signs, boosted by the government's spending plans, through the Highways and the Rural Roads Departments, on a combined investment of 40 billion baht, with 55 per cent of the earmarked state budget expected to be disbursed by next month. Arkhom reported that private investment plans, including those in the property sector to build residential, commercial and small shopping malls in the upcountry, have also on the rise. The economic ministers suggested that the government now focuses on border trade with neighbouring countries, especially in special economic zones, while expressing satisfaction with domestic tourism growth by 26 per cent from January to April 15, 2015. The meeting projected that Thailand's GDP in the first quarter of this year should, thus, grow by 3 per cent and continue expanding in the following quarters, cushioned by the public investment plans. The meeting also assessed that the Thai economy should expand by 3.5-4.5 per cent on average year-on-year in 2015. (TNA)