Thailand prioritises economic development hinh anh 1Local people shop at a shopping mall in Bangkok. (Photo: EPA/VNA)

Bangkok (VNA) – The Thai Government announced on January 1 that it will channel efforts into bolstering economic growth and alleviating extreme poverty in 2018.

The announcement was made in the context that many experts have warned of signs of a deteriorating economy, including mass layoffs in several sectors.

The government’s spokesman Major General Sansern Kaewkamnerd said that priority would be given to boosting economic growth and tackling bread-and-butter issues. The government planned to allocate an big amount of money to improve local livelihoods, using the tourism and agricultural sectors as mechanisms to create sustainability in the economy, he noted.

According to Sansern, many economic indexes like GDP growth and inflation rate showed that the Thai economy has been strengthened while exports are enjoying sound expansion and the government’s large investments in infrastructure projects involving the Eastern Economic Corridor have brought upbeat results.

Prime Minister Prayuth Chan-ocha had acknowledged that besides macro-economic development, it is crucial to strengthen the economy by seeking markets and adding value to agricultural products such as rice, rubber and palm oil, the spokesman said.-VNA