Finance minister certain new stimulus will boost economy by 0.55 per cent
Finance Minister Uttama Savanayana said he is confident that the planned stimulus measures will boost the country’s economy by 0.55 per cent during the rest of this year.
He said the National Economic and Social Development Council (NESDC) report on the gross domestic product (GDP) in the second quarter showed growth in line with his ministry’s forecast, which is a why new stimulus measures are necessary. He added that the new measures, which will cost the government Bt310 billion, will boost the GDP by 0.55 to 0.56 per cent.
“According to the NESDC, the GDP expanded 2.3 per cent in the second quarter compared to the previous quarter’s growth of 2.8 per cent. This indicates a slower growth in Thai economy due to the state of the world economy. If these measures are not applied, the full-year growth may be lower than 3 per cent,” he said.
Uttama will submit a draft of the economic stimulus measures and management plans using the Bt310 billion budget to the Cabinet on August 20. Once they are approved by the Cabinet, some measures will be implemented this month.
