March 21, 2008
BANGKOK - Samak government will focus on growth and investment while stimulating the domestic consumption through tax stimulus package.
"My government is focusing on growth and investment," Prime Minister Samak Sundaravej said in a speech to the American Chamber of Commerce in Thailand.
Samak expects Thailand will overcome soaring oil prices and US mortgage woes.
"We are to stimulate domestic consumption through a package of tax stimulus measures," Samak said, adding economic fundamentals were "strong and resilient against many odds" including rising oil prices and US economic woes.
Up to six percent of economic growth is targeted this year.
The growth rate was 4.8 percent last year, which is ranked among the lowest in Southeast Asia.
While growth in Thai exports remained robust, investor confidence and domestic demand were hit hard by political turmoil.
Samak will also go ahead with a multi-billion-dollar public works project.
