BANGKOK, Aug 20 (TNA) – A leading economist says the
government’s new stimulus package will boost the economy to grow 3-3.5 percent
this year.
Thanavath Phonvichai, Director of the Economic and Business
Forecast Center at the University of the Thai Chamber of Commerce, said the
package would inject about Bt20-30 billion into the economy through state
welfare programs.
Another batch of up to Bt100 billion would be handed out
through loans by government-run banks, he said.
Mr. Thanavath said the government package would stimulate
growth in the fourth quarter to reach 4 percent growth and the annual growth of
3 percent.
As Thai exports weakened and the impacts of US-China trade
war expanded, Thailand’s economy grew at 2.6 percent in the first half on this
year.
The economic cabinet has recently decided to introduce the
new stimulus package to offset the sluggish global outlook.
The package consists of three main measures: assistance for people
affected by the drought crisis, mitigation of the global slowdown impacts and
help for low-income earners and the elderly, according to the Finance Ministry.
(TNA)
