Thai economy in May grows better
The Fiscal Policy Office of Thailand has reported that the local economy in May 2016 significantly improved following the first increase in auto sales in 36 months at 8.3 percent.
A supermarket in Thailand (Photo: Getty Images)Bangkok (VNA/NNT) - The Fiscal Policy Office of Thailand has reported that the local economy in May 2016 significantly improved following the first increase in auto sales in 36 months at 8.3 percent.
Deputy Director of the Office Pornchai Theerawet said the Thai economy in May this year was mainly driven by the public sector's spending, especially its investment spending which expanded by 51 percent. Private investment also showed signs of improvement since the retail sales of cars continuously increased 26.5 percent.
He added that an increase in consumption in the private sector resulted in a 1.7 percent rise in value added tax collection. A 4.4 percent decrease in export value was in line with the region.
The better economy in May led to the Fiscal Policy Office's estimation of a higher second quarter growth rate than 3.2 percent in the first quarter.
The office will revise its estimation of the Thai economic expansion this year at the end of July.-VNA
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
ASEAN
ASEAN Future Forum 2024 looks to ensure comprehensive security for community
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
ASEAN
ASEAN Future Forum 2024 enters first session
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Thailand urged to increase proportion of renewable power generation
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
