BANGKOK, Aug 19 (TNA) — Finance Minister Uttama Savanayana said the economy could grow by 3% this year and he would propose 316-billion-baht economic stimulus measures to the cabinet’s meeting for approval tomorrow.
The minister said that the economic growth of 2.3% in the second quarter of this year as announced by the National Economic and Social Development Council had been expected. The figure was not lower than the government’s anticipation because of the fluctuating global economy and the trade war of China and the United States, Mr Uttama said.
“This is why the government must issue urgent measures to maintain the Thai economic growth,” he said.
The Finance Ministry will tomorrow table a 316-billion-baht economic stimulus package in the cabinet meeting. It includes cost-of-living subsidies and incentives to encourage consumption and domestic investments.
If the cabinet approves the whole package, it will boost the gross domestic product by 0.55% and the GDP should grow by 3% this year, Mr Uttama said.
The stimulus measures could take effect either late this month or early next month, he said. (TNA)
