BANGKOK, Oct 2 (TNA) — Finance Minister Uttama Savanayana said the government was working out solutions to drive the economy but he doubted that its growth rate would reach 3% as earlier anticipated.
Fitch Ratings downgraded many countries amid the global economic slowdown but its rating for Thailand improved from ‘stable’ to ‘+’ reflecting investors’ confidence in the future of the Thai economy, Mr Uttama said.
He said that investors’ applications for promotional privileges from the Board of Investment were steadily increasing and that also confirmed investors’ confidence.
Mr Uttama said he was uncertain if the Thai economy would expand by 3% this year as earlier anticipated because global economic problems were heavily affecting Thai exports that were a main factor of the economic growth.
“The government is trying to maintain economic growth with measures to stimulate the local economy,” the finance minister said.
There could be more stimulus measures in addition to the cash giveaway and cash rebate scheme related to domestic tourism but the government would have to evaluate the scheme within this month before making a decision, Mr Uttama said. (TNA)
