THE UPCOMING election is affecting investment by the private sector which will slow down until August as it is then that it is expected a new government will be in place, Matichon newspaper quoted the head of Federation of Thai Industries Mr. Kriangkrai Thiennukul as saying this evening (Mar. 1).
This gap that has arisen from the outgoing and incoming government which is leading to private sector investment dipping but is something that should not happen necessitates the implementation of stimulus measures to spur the economy during this period.
Key steps to support the economy over the next few months include spurring consumption and pushing government spending and disbursement.
“The private sector is slowing down investment to wait for clarity on the establishment of a new government. Once a new government takes charge in the second half of this year there will be additional private investment,” he said.
From now till August the private sector would like to see the public sector plan and manage expenditure in any form at all that includes direct investment by the state and state enterprises to be an engine to reach the targeted economic growth, he added.
Finance Minister Arkhom Termpittayapaisith said last Saturday (Feb. 25) that Thailand’s economy will likely grow by 3.8 percent this year, helped by a rebound in the vital tourism sector.
Mr. Kriangkrai Thiennukul. Top photo: INN News, Front Page photo: Matichon