Kittiratt stands firm on megaprojects

The government will go ahead with the planned investment in the two-trillion baht infrastructure development projects to spur the economy, Finance Minister Kittiratt Na-Ranong reaffirmed on Tuesday.

Mr Kittiratt, also deputy prime minister for economic affairs, said this after a meeting with officials of Moody’s Investor Service to provide them with information about Thailand's economic situation.

The government will maintain  public debt below 50% of gross domestic product, with the aim to come up with a balanced fiscal budget in 2017, he said.

The minister believed that if the infrastructure overhaul can move ahead as planned, together with the implementation of water projects and a speeding up in government spending, the economy would grow at good level, not slow down as some feared.

If there is concern over a possible economic slowdown, the Bank of Thailand and commercial banks could cut interest rates to help mobilise the economy, he said.

Related search: development projects, Kittiratt Na-Ranong, Moody's Investor Service

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