Thai government rolls out 4.76-billion-USD stimulus
Local media quoted Thai Finance Minister Uttama Savanayana as saying that the cabinet approved the Finance Ministry’s package which comprises of three measures after it was predicted that the global economy is likely to remain in a state of flux and exert further pressure on Thailand.
The aim is to boost the economy during the remainder of this year and the first quarter of next year, Uttama said.
He said the Thai government expects the measures to propel full-year economic growth to 2.8 percent from a projection of 2.6 percent recently announced by the National Economic and Social Development Council (NESDC).
On November 18, the NESDC reported the economy grew 2.4 percent year-on-year in the third quarter, driven mainly by increases in private and government consumption and investment, slightly improving from the 2.3 percent year-on-year in the second quarter but lower than the 2.8 percent in the first quarter./.