Improved Thai economy foreseen in wake of general election

BANGKOK, March 25 (TNA) - The Thai economy is likely to be in a better track after the country's March 24 general election, as international investors are more confidence in the national economy. Supant Mongkolsuthree, Chairman of the Federation of Thai Industries (FTI), made the assessment in Bangkok on Monday, saying that the country's mega-investment plans, including those in the Eastern Economic Corridor (EEC) Project, will also be pursued to sustain the stable national economy in the long run, especially if the Phalang Pracharat Party (PPP), backed by the incumbent military government, heads the newly-elected coalition administration as expected. The FTI chairman pointed out that most of the Thai citizens are in the domestic farm sector and he, thus, believed that the national economic prospect should be improved, boosted by the Phalang Pracharat welfare program for low-income people despite a slowdown in the country's gross domestic product (GDP) and export growth, caused by impacts from the unsettled trade war between the United States and China and a slowdown in the world economy consequently. Meanwhile, Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO), forecast that the country's GDP would grow no higher than 4 per cent year-on-year in 2019 due to the external risk factors no matter which Thai political party will head the newly-elected coalition administration. (TNA)