PM plans to beat 'middle income trap' | Bangkok Post: news

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PM vows splurge on megaprojects

Big spend aims to exit 'middle-income trap'

  • Published: | Viewed: 7,942 | Comments: 16
  • Newspaper section: News
  • Writer: Wichit Chantanusornsiri & Pradit Ruangdit
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Prime Minister Yingluck Shinawatra has promised to drag Thailand out of its so-called "middle-income trap" with massive investments in megaprojects. 

The middle-income trap is an economic term for when a country's growth plateaus and eventually stagnates after reaching middle-income levels.

Ms Yingluck yesterday said Thailand had not completed any major infrastructure projects for several years. Its latest development project was Suvarnabhumi airport seven years ago.

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