Thailand: State investment expected to fuel economic growth

Due to global weak demand and ongoing trade tensions, State investment in big-ticket infrastructure projects and the government's Eastern Economic Corridor (EEC) flagship appears to be one of the few lifelines that Thailand can bank on to maintain economic growth momentum in 2020.

Illustrative image (Photo: Ashton Hawks)

Illustrative image (Photo: Ashton Hawks)

According to the Bangkok Post on January 2, making State investment happen will also have a knock-on impact on private investment, which was weaker than expected in 2019 due to the prolonged struggle to establish a new government.
The National Economic and Social Development Council said 17 key infrastructure projects worth US$25.96 billion have been approved by the cabinet. Some are scheduled to be up and running in 2020 and 2021.
Thailand’s private investment is expected to reach 4.6 percent this year compared to 2.7 percent in 2019.
Thai Finance Ministry’s experts predicted that the economy will expand by 3.3 percent this year.

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