BANGKOK, 24 June 2015, The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) is set to adjust its projection for this year’s gross domestic product (GDP) growth rate next month. Meanwhile, the Federation of Thai Industries (FTI) believes the local economy would not be affected by the U.S. Federal Reserve’s benchmark rate hike or Greece’s extended debt payment deadline.
FTI Chairman Suphan Mongkulsuthee said the Thai baht is still strong, adding that Thailand currently has a public debt of only 40 percent of GDP. He is confident that the Kingdom’s economy will significantly improve from the third quarter onwards, as government investment projects take shape.
Mr. Suphan also voices his support for using the provincial economic situation to determine minimum wage, adding that the rate adjustment should be done on a province-by-province basis. The matter will be discussed at length in the next JSCCIB meeting, before submitting a proposal to the government for consideration.
