PUBLISHED: 28 Feb 2025 at 04: 00
Finance Minister Pichai Chunhavajira announced a master plan to boost the business and meet its 3.5 % development goal this year.
He made the remarks after a meeting with representatives of the National Economics and Social Development Council ( NESDC ), the Fiscal Policy Office, and the Bank of Thailand, three important economic organizations that are involved in the economy.
He claimed that the NESDC’s first and second quarters of last year saw GDP growth of less than 2 % because there were no government funding funds transfers delayed in passing the budget bill for the 2024 governmental time.
But after the budget disbursement injected cash into the economy, GDP for the third and fourth quarters expanded by 3 % and 3.2 %, respectively, he said, providing a mean figure of 3.1 % for the second half.
” If we can keep the momentum and make further improvements, I believe GDP growth is expected to be above 3 % this year”, Finance Minister Pichai said.
” Achieving 3 to 3.5 % GDP growth this year is an extreme destination. The primary secretary added that the business should succeed in this endeavor.
In addition to budgetary allocations to increase consumption and condition investment, he claimed, a master plan is required to boost the economy and join the target.
The secretary also emphasised the need to make the most of the country’s abilities, such as hospitality, to increase overall profits.
He added that more money must be put into commerce development, such as for projects to build terminals in provinces that are now less popular tourist destinations.