Thai junta cites economic progress despite ranking fall

By CS Thana

BANGKOK (AA) - Despite major criticism of its handling of the economy, Thailand's ruling junta has cited its ranking on the World Bank's recently released Doing Business 2016 report as a "clear" indicator that it is improving its economic record.

Maj. Gen. Sansern Kaewkamnerd, junta spokesperson, said in a statement released Sunday that the country had placed 49th out of 189 countries in the study.

“Prime Minister Gen Prayut Chan-o-cha has emphasized for all government agencies to undertake more effective and advanced measures to best facilitate investors and to let them know about privileges and the improved services," he said.

In 2015, the country figured 46th. There was no effort to explain how Thailand falling in the rankings between 2015 and 2016 could read as an improvement.

The military did blame economic instability within regional power China for sluggish growth rates, however, and underlined that one year after the 2014 coup gross domestic product had risen to 2.8 percent from 0.8 percent the previous year.

Kaewkamnerd said that the military had also had to reshuffle its economic guidance team and economy tsar due to widespread criticisms of its handling of the economy.

“All concerned sectors have reported positive progress, based on the government’s initiatives to revise and improve Thailand’s business operation procedures," the statement said.

"The Government, therefore, hopes that the country ranks better in the next round of evaluations."

Both main political parties have publicly expressed apprehension at the way the junta has approached economic governance in 2014 and 2015.

In 2015, technocrats criticized the junta's many public works projects, including mega infrastructure programs such as a high speed rail system and large scale public parks.

The criticism led to the removal of Pridiyathorn Devukula as finance minister, with Somkid Jatusripitak named as his replacement.