Prayut upbeat over ministry’s forecast of 4% GDP growth this year
Prime Minister Prayut Chan-o-cha has backed the Energy Ministry’s prediction that Thailand’s economy could expand by as much as 4% this year.
Government spokesman Anucha Burapachaisri said on Wednesday that Prayut acknowledged the estimate submitted by Energy Minister Supattanapong Punmeechaow earlier this week.
The ministry forecasts Thai GDP could grow 4% in 2023, pointing to strong fiscal and financial discipline plus a sovereign credit rating that remains the same as last year.
It said government measures to mitigate impacts from the global economic downturn, together with the continued infrastructure development and efforts to seek investment in new technology and innovation will also push economic expansion.
Anucha added that the government’s success in reviving diplomatic ties with Saudi Arabia after 32 years will help expand Thailand’s export markets in the Middle East and Africa.
The Energy Ministry also forecast investment privileges granted to Thai and foreign businesses will rise to over 700 billion baht this year, with the 1 trillion-baht milestone following soon after.
