BANGKOK- Thailand’s economy is expected to grow 2.8 percent this year, helped by public consumption and investment after the formation of a new government, a deputy finance minister said, as exports remain weak amid slowing global demand.
Public investment and spending will also attract more private investment while private consumption and tourism are still growing well, Deputy Finance Minister Krisada Chinavicharana said.
The 2.8 percent growth outlook, however, will not reach the ministry’s earlier forecast of 3.5 percent this year, he told reporters after telling a business event that the economy might grow as forecast this year.
“But this year the economy will definitely meet the country’s growth target of 2.8 percent “ as predicted by the National and Social Development Council, the state planning agency, he said.
“The engine that is about to start is public consumption and spending after the government formation,” Krisada said.
The new government led by Prime Minister Srettha Thavisin, who is also finance minister, seeks to revive Southeast Asia’s second-largest economy and deliver on key campaign promises. – Reuters
