Bangkok (VNA) – Thailand’s economic growth
in the third quarter is likely to improve from the second quarter’s reading, mainly thanks to positive tourism growth and the government’s economic stimulus measures, according to the
Senior Director at the BoT’s macroeconomic and monetary policy department Don Nakornthab said GDP growth in the third quarter is expected to surpass 2.3 percent, which was recorded in the second quarter, and the economic expansion was supported by the government’s stimulus package, growth in the tourism sector and exports.
Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism deteriorated, buffeted by the US-China trade tensions and the strong Thai baht.
GDP rose 2.3 percent from a year ago, down from 2.8 percent in the first quarter, the National Economic and Social Development Council reported.
On August 20, the Thai cabinet gave the green light to a 316-billion-THB (10.13 billion USD) stimulus package deemed vital to boosting the country’s economic growth by 0.5-0.6 percentage point this year./.
- UK's expected economic growth unlikely to last, experts warn
- Swedbank sets 2019 economic growth forecast at 3.3 percent
- SEB raises 2019 economic growth forecast to 3 percent
- First quarter economic growth 4.5 percent on year
- Second quarter economic growth slows, up 3.6 percent on year
- The depressing truth behind our ‘economic growth’
- Putin Calls for Rise in Incomes, Stronger Economic Growth
- Bank of Spain improves economic growth outlook for 2019
- Germany's 'golden decade' of economic growth comes to an end
- Oreshkin Goads Bank of Russia on Growth as Inflation Slows