Thai gross domestic product (GDP) growth of five percent this year is possible if the government could resolve the current political unrest and the suspended industrial projects at Map Ta Phut, former finance minister Pridiyathorn Devakula said on Monday.
However, if the two issues are not resolved properly, the Thai economy would expand by only three per cent this year," Pridiyathorn added.
According to Pridiyathorn, contributions towards the Thai economic growth this year would come from the exports sector, government spendings, higher prices of five main agricultural crops such as sugarcane, tapioca, rubber and oil palms. With more income, farmers could spend more this year, thereby contributing to higher domestic consumption.
If the 60 suspended projects at Map Ta Phut industrial estate can resume operations again, more jobs will be created, contributing to less unemployment.
As for Thai stocks, Pridiyathorn believes the attractive prices of Thai stocks and the Thai economic recovery will attract capital inflows.
The Nation
