Business
Thailand’s Finance Ministry to Propose More Stimulus Packages to Boost Economy
Somchai Sujjapongse, the permanent secretary for Finance, said that the ministry would submit more stimulus measures to the Cabinet tomorrow.
Under the stimulus packages, the ministry expects over a million people will be benefited.
Somchai Sujjapongse, the permanent secretary for Finance, said that the ministry would submit more stimulus measures to the Cabinet tomorrow.
According to the NNT, the measures aimed at stimulating the economy this and next year, and expect that around one million people will be benefited.
He was confident that the measures would result in a 3.4% economic growth in the last quarter and steer the economy forward.
In addition, he said many infrastructure investment projects by the government in 2017 would also increase next year’s growth rate increase to 4% from 3.4% this year.
Meanwhile, the Joint Standing Committee on Commerce, Industry and Banking has forecast that the Thai economy this year may be lower than a 3.3% estimate but expressed confidence that the 2017 economy will recover continuously.
As for next year’s economy, the committee said that it would recover continuously due to higher private spending, the stimulus measures as well as increasing global oil price. The committee predicted that the 2017 Thai economy would significantly recover in the 2nd – 3rd quarters and expand by 3.5-4% as expected.
The U.S’ trade policy, the Fed’s interest rate increase and the political situation of the EU will be internal risk factors to the Thai economy next year.
