Thai economic growth can reach 3% this year: Deputy PM

Deputy Prime Minister M.R. Pridiyathorn Devakula has expressed his confidence that the Thai economy this year will grow by 3% due to the government’s measures to increase revenue in the agricultural sector.

The deputy premier on Sunday said jobs added in the agricultural sector by the government had increased people’s spending as seen from an increase in value-added tax collection. He admitted that the weakness of the Thai economy was a low per capita income and confirmed that the government would not use populist policy to stimulate the economy.

As for the Greek economic crisis, M.R. Pridiyahtorn said it would affect the Thai economy very little since Thailand’s exports to Greece were only 6% and there was no Thai financial institution investing in Greece’s government bond. He added that the current baht value was appropriate.