Somkid credits government policies for buoyant stock market
By The Nation
Economic growth will accelerate next year as confidence and investment increase following an announcement about the general election and amid generous state spending, Deputy Prime Minister Somkid Jatusripitak said on Friday.
He was commenting the day after the stock market rose sharply, boosted mainly by the announcement of clearer plans for the election.
Somkid said investors were more confident now that the election had officially been scheduled for February, leading to large inflows into the stock market.
The SET index rose 2.3 per cent yesterday over the previous day to close at 1,718 points and continued to rise during Friday’s morning trade.
Somkid was to meet with senior officials at the Budget Bureau later on Friday to discuss budget disbursements for fiscal 2019, which begins next month.
He said government funding for a slate of mega-projects would enter the economy in the first half of the next fiscal year, which runs January-June 2019.
The government plans to accept bids for a high-speed railway connecting three international airports and for investments in U-tapao Airport and deep seaports at Laem Chabang and Mab Ta Phut.
The market consensus is that gross domestic product will expand by around 4.5 per cent this year and by about the same amount next year.
But Somkid predicted GDP growth would reach 5 per cent this year and exceed that next year.
He also believes the next government will maintain the economic policies set out by the military-led government.
Call for action to halt farmers’ use of antibiotics for fish, prawn stocks as drug-resistance fears growBy The Nation File photo Some farmers sprinkle antibiotic medicine onto their fish and prawn stocks that are kept inside floating baskets either in enclosed ponds or natural waterways, a...READ MORE...
New Electoral Constituency Could Favor Pro-Junta Parties: ObserversBy Pravit Rojanaphruk, Senior Staff Writer Gen. Prayuth Chan-ocha with members of his cabinet July 24 in Ubon Ratchathani province. BANGKOK — The kingdom’s leading election observers on Sunday criticized the junta leader’s order...READ MORE...
55,000 police to guard 200 Loy Krathong venues nationwideBy The Nation The Royal Thai Police will deploy 55,000 policemen to keep security at some 200 Loy Krathong venues around the country on Thursday night, a deputy national police chief said on Monday. Pol General Chalermkiat Srivorakan,...READ MORE...
Poll shows almost half feel they are not better off after 4 years under junta Almost half of the respondents to an opinion poll admitted that the Prayut government’s “Return the Happiness to the People” policy has not made them happier as there have not been any changes for the better for their...READ MORE...