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 He also added that the public debts could rise to 60 per cent of gross domestic product, but insisted that Thailand remains an attractive investment destination to foreign investors.

 He admitted that the economy is in the severe condition, due to the global crisis and political turbulence which highly affect exports and the tourism industry.

 To solve economic problems, the government has provided guarantees on agricultural products prices and boost the manufacturing sector particularly those in the auto industry, as well as promote alternative energy.  

 He also insisted that the government should start executing the Bt1.56 trillion second stimulus package late this year.

 He admitted that it is necessary that political conditions must be neutralised to ensure the effectiveness of policies.

 "In the first three months, we thought a tango always take two. We had refrained from arguing (with protesters) and thought there would be no problem. Yet, we were wrong, as there's a party who does not want an end to political conflicts. They are ready to resort to violence," he told the council.

 He urged more public participation in solving the problems, while assuring the council of less severe economic problems next year.