BANGKOK, Sept 2 – Most Thai economists believe that the country’s gross domestic product (GDP) from 2014-2020 will grow less than 5.63 per cent.
Bangkok Poll by Bangkok University stated that 61 economists from 31 leading organisations were interviewed between August 22-28 on “Thailand’s GDP and public debt”.
Most (65.5 per cent) viewed that the Thai economy in 2014-2020, at least more than 50 per cent chance, would grow at less than 5.63 per cent/year, given GDP at annual price, due to the government’s infrastucture development and water management plans. Such was the average rate for the past 16 years.
When asked how much chance that Thailand’s GDP would grow at less than 4 per cent/year, most of the economists (57.4 per cent) said the chance would be 50 per cent, and it is highly possible, at over 50 per cent, that the proportion of public debt to GDP would exceed 50 per cent as predicted by the government.
However, 63.9 per cent of respondents said household debts are most worrisome, followed by public debt (31.1 per cent), but public sector debt was not a concern of the economists.
The respondents also advised that the government, for a sustainable and balanced budget from 2017 onwards, stop its populist policies, invest in infrastructure for further competitive ability of the country, increase tax and speed up managing tax collection system, have financial discipline, suppress corruption, along with other matters.
