Thai govt plans Bt20 bn stimulus to boost slowing economy

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Thai govt plans Bt20 bn stimulus to boost slowing economy
Thai govt plans Bt20 bn stimulus to boost slowing economy

Thailand will introduce economic measures worth about 20 billion baht ($629.52 million) to spur its slowing economy, the finance minister has announced. The measures will be aimed at boosting consumption, tourism and helping low-income earners, Apisak Tantivorawong told reporters.

Thailand’s economic growth is expected to slow to about 3 percent in the first and second quarters of the year, Apisak said, cooling from 3.7 percent in the last quarter of 2018. Official first-quarter gross domestic product (GDP) will be released on May 21. Thailand’s trade-dependent economy has been affected by slowing global demand, while the country is waiting for the next government to be formed after the March 24 general election.

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