Minister:Thailand's economic recovery should be seen in 2nd half 2015

BANGKOK, April 3 (TNA) - Commerce Minister General Chatchai Sarikulya says that Thailand's economic recovery should be clearly witnessed in the second half of this year, spurred mainly by the government's spending on public projects. General Chatchai told journalists on Friday that his ministry has closely monitored the national economy, dismissing concerns that the Thai economy is at risk of encountering a deflation. General Chatchai explained that a deflation takes place when inflation, gauged by the consumer price index (CPI), contracts for at least six consecutive months, while wages and goods prices decline abnormally with no new investment projects. The commerce minister pointed out that investment in Thailand has been on the rise although people remain careful in their spending. The commerce minister insisted he personally believes that the Thai economy should rebound in the second half of 2015, as the government has accelerated budget spending, the result of which should be clearly seen in the third and the fourth quarters of this year. Besides, the commerce minister noted, the global economy has started recovering, which should help stimulate the Thai economy. (TNA)