In order to develop the national economy toward a sustainable growth, the new government is suggested to deal with both short-and long-term economic issues simultaneously, instead of emphasising on the confronting ones. In the fifth part of this series of special reports, another academic discloses his own expectation for the newly elected government.
Director of the Economic and Business Forecasting Centre of the Thai Chamber of Commerce University Dr Thanawat Polvichai stated that the new government should urgently solve economic problems in both short and long terms. As for short-term measures, he elaborated that money should be injected to stimulate the economy while living cost of people must be controlled, but agricultural crop prices should be increased. He added that confidence of investors and people should be boosted while the tourism and export sectors should be promoted further.
As for long-term solutions, Dr Thanawat stated that the new government should improve the national education system, support technological development in the industrial sector, improve infrastructure and adjust the tax system to meet with the industrial growth. He noted that the government must also prepare the country for the upcoming establishment of the ASEAN Economic Community in 2015 while narcotic drug and corruption problems must also be dealt with.
The director expressed his wish that all sides will respect the election result no matter which party will be able to form a new government because it is the will of the majority. He hoped that the new government will be able to complete its four-year term in order to stabilize national policy planning and enhance foreign investors’ confidence.
In terms of economy, both the private sector and academicians have been putting a high expectation on the new government, which will certainly be faced with a number of challenges as it has to push for projects it has promised during the election campaigns. At the same time efforts must also be made to improve the situation in other aspects of the country.
The sixth part of this series will follow with more opinions from other representatives of the business and academic sectors.