Buildings and temples along the Chao Praya River in Bangkok, Thailand (Photo: AFP) Bangkok (VNA) – The economic cabinet of Thailand remains optimistic that the country’s economic growth will exceed 3 percent this year despite the sluggish global outlook. Kobsak Pootrakool, deputy secretary-general on political affairs to the prime minister, said the government’s economic team now targets economic growth of 3 percent this year. This is in line with the National Economic and Social Development Council’s predictions which forecast growth of between 2.7-3.2 percent for 2019. The forecast was made in the context that the Thai economic cabinet has decided to to inject another 316 billion baht into the economy through a new stimulus package. The stimulus package consists of three main groups of measures: assistance for people affected by the drought crisis, efforts to mitigate the impact of the global slowdown on the Thai economy, and help for low-income earners and the elderly with the high cost of living. The stimulus package will be submitted to the government for approval on August 20. Thanavath Phonvichai, vice-president for research at the University of the Thai Chamber of Commerce (UTCC), said the government’s economic stimulus package is designed to transfer… Read full this story
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