Thailand's new mega-investment projects delayed

BANGKOK, March 29 (TNA) - Thailand’s new mega-infrastructure investment projects are delayed, as the caretaker government cannot prepare 2015 fiscal state budget because it is against the Constitution. Caretaker Transport Minister Chadchart Sittipunt told reporters of the information, saying, however, that investment for major infrastructure projects, approved earlier by the Cabinet namely three extended mass transit rail systems with combined maximum investment of 10 billion baht, could be proceeded. Chadchart acknowledged that major public projects carrying investment above one billion baht apiece needs to wait for the new government to approve, cautioning that the longer domestic political crux continues, the longer investment by the government for mega projects will be affected. On demands by anti-government protesters for national reform and an appointment of a "neutral" prime minister, Chadchart said that the caretaker government would stick to the democratic system, in which a general election must be held first. Meanwhile, the independent Kasikorn Research Centre (KRC) forecast that the Thai baht would move between 32.30 and 32.60 against the US dollar next week. The leading private Thai think tank warned that the baht could move in volatility, depending on Thailand’s political situation, while forex traders are also closely monitoring the ongoing political problems between the United States and Russia. On March 28, the baht was at 32.48 against the greenback, compared to 32.36 a week ago. (TNA)