Thailand plans $630m in economic measures to boost growth

Friday, 19 April 2019

Thailand’s Finance Minister Apisak Tantivorawong said the country will introduce economic measures worth about 20 billion baht ($629.52 million) to spur its slowing economy.

The measures will be aimed at boosting consumption, tourism and helping low-income earners, and will be submitted to cabinet within two weeks, he said.

The country’s economic growth is expected to slow to about 3.0 per cent in the first and second quarters of the year, Apisak said, cooling from 3.7 per cent in the last quarter of 2018.

Official first-quarter gross domestic product (GDP) will be released on May 21, reports Reuters.

Thailand’s trade-dependent economy has been affected by slowing global demand, while the country is waiting for the next government to be formed after a March 24 general election.