NESDB Proposes 4 Measures To Drive Economic Growth

From fnWEB Bangkok

Thailand's National Economic and Social Development Board (NESDB) has proposed four key measures to drive the economy to ensure stable and smooth growth in the rest of this year.

Included are accelerating the budget disbursement for 2007 fiscal year, preparing the 2008 fiscal budget as scheduled, building confidence in investment, industrial and tourism sectors, and boosting political confidence.

NESDB Secretary-General Amphon Kitti-amphon said the government should prioritize measures to keep the economy growing steadily and smoothly for the remainder of the year.

At the same time, it must step up its efforts to balance the overall economic system by improving production efficiency, promoting investment, and encouraging the public and the business sector to adjust to the political transition period and the economic slowdown.

Dr. Amphon said the government needed to accelerate budget disbursements for the 2007 fiscal year as they have been targeted through the committee tasked to drive the overall economy and the committee tasked to monitor state spending.

Emphasis must be placed on distributing budget into projects that benefit people at a grass-root level, he emphasised

It must also supervise the preparation of the 2008 fiscal budget to ensure disbursements are made as scheduled.

At the same time, the government must attempt to build confidence in the investment, industrial and tourism sectors.

In particular, it must accelerate coping with obstacles to the expansion of private investment, speeding up the electric elevated and underground mass transit construction projects, continuing deregulation to encourage private investment, and building confidence and ensuring safety for tourists.

In addition, the government must try to boost economic and political confidence by accelerating deliberation of the new constitution and holding the general election as scheduled.