Thai economy in Q3 grows faster than forecast hinh anh 1Visitors at a Thai trade fair in Vietnam. (Photo: VNA)

Bangkok (VNA)Thailand’s economy grew faster in the third quarter of 2015 than previous forecasts thanks to the government’s economic stimulus package and higher-than-expected number of inbound tourists that offset negative impacts of declined export.

The Office of the National Economic and Social Development Board (NESDB) said in a report on November 16 that the country’s Gross Domestic Product (GDP) in the third quarter of 2015 expanded 2.9 percent against the same period last year.

The figure is higher than the previous forecast of 2.5 percent by US-based Bloomberg.

The Thai economy in the third quarter also rose by 1 percent from the second quarter, instead of the forecast of 0.6 percent.

Its GDP is projected to grow 2.9 percent this year, improving from 2.7 percent forecast in early August.

The NESDB expects the economy of the Southeast Asian nation will expand 3-4 percent with the export value growing by about 3 percent.-VNA