THE Finance Ministry does not think the Northeastern floods will affect this year’s gross domestic product (GDP) growth which should still be 3.5-3.6% while rushing to invest in infrastructure projects to turn Thailand into the center of CLMV zone (Cambodia, Laos, Myanmar and Vietnam zone), Thai News Agency said today (August 4).
While Finance Minister Apisak Tantivorawong is confident that Thailand will see 3.5- 3.6% GDP growth this year, he did point out that this also depended on how long the floods last and whether they spread any further.
In his opinion it seems that the floods are remaining within a limited area of the Northeast.
Mr Apisak added that this government is doing its best to ensure sustainable economic growth and ever since it came to power GDP has risen continuously from 0.8% in 2014 to 2.8% in 2015 and 3.2% in 2016 while should reach 3.5-3.6% this year.
The government is rushing to invest in infrastructure, especially transport, because this will help Thailand become the center of CLMV by linking up with these neighboring countries thus boosting the country’s potential.
Moreover these infrastructure projects, which cover the whole country and include rail and port development, would help decrease logistics cost.
Top: Finance Minister Apisak Tantivorawong. Photo: National News Bureau of Thailand