Thailand focuses on economy

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Source: CCTV.com | 04-16-2009 15:29

Thailand's government turned its attention reviving the economy on Wednesday, a day after the end of violent protests that further dented confidence in the country.

Thailand focuses on economy

Four days after Thailand declared a state of emergency in Bangkok, security remains tight around Prime Minister Abhisit Vejjajiva's office, the epicenter of the recent violent protests.

An end to the latest political chaos in the kingdom allowed the government breathing space, to focus on fixing the economy.

Thailand says it may have to borrow more money to finance additional stimulus measures to compensate for any economic losses from the political turmoil.

The Thai cabinet is scheduled to meet on Friday to discuss the budget and the stimulus package.

The country's tourism council says this week's clashes, combined with November's airport shutdown, will likely slash the country's tourism revenue by a third this year, or 5.6 billion US dollars.

The effect on jobs could be just as devastating.

Officials warned that Thailand's violent and ongoing political crisis could cost the crucial tourism industry more than 200-thousand jobs.

The World Bank earlier this month projected that Thailand's economy would contract 2.7 percent this year after growing 2.6 percent last year.

Editor:Zhang Yun