Axar.az
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22 September 2019


Thailand plans $10 billion stimuli to support the economy

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Thailand is planning a stimulus package worth $10 billion that will include support for farmers and tourism, its finance minister said on Friday, in a move to shore up a flagging economy.

Axar.az reports citing Reuters Southeast Asia's second-largest economy expanded 2.8% in the first quarter, the weakest annual pace in more than four years, as exports - a key growth driver - have declined amid rising trade tensions and a strong baht THB=TH.

The government is targeting gross domestic product (GDP) growth of at least 3% this year and 3.5% next year, Kobsak Pootrakool, secretary of the economic cabinet, told reporters after the meeting to discuss the stimulus measures.

Following discussions between economic and finance officials, the package was worth 316 billion baht ($10.23 billion), Finance Minister Uttama Savanayana told reporters.

Date
2019.08.16 / 17:39
Author
Axar.az
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