The Thai Fiscal Policy Office (FPO) has reported that the country’s economy has shown some positive sentiments as a result of domestic spending.
According to the FPO, the nation’s economy in October has been recovering as a result of growing domestic consumption and the private sector’s investment. Government spending increased by 42.3 percent compared to the same period last year thanks to plans to withdraw 300 billion THB from the Central Budget to stimulate the economy.
Foreign tourist arrivals also increased for the first time in 10 months. In October, the number of tourists was 12.3 percent higher than September. Agricultural production, on the other hand, contracted as a result of this year’s drought crisis. In spite of this, the FPO still believes that the Thai economy remains stable and will not be affected by the volatility of the global economy.
Core inflation was reported at 1.5 percent in October, which is a decrease from last month’s figure of 1.8 percent. Meanwhile, the unemployment rate in Thailand was still relatively low at 0.8 percent.
Lastly, the Thai Foreign Exchange Reserves were as high as 160 billion USD.-VNA
According to the FPO, the nation’s economy in October has been recovering as a result of growing domestic consumption and the private sector’s investment. Government spending increased by 42.3 percent compared to the same period last year thanks to plans to withdraw 300 billion THB from the Central Budget to stimulate the economy.
Foreign tourist arrivals also increased for the first time in 10 months. In October, the number of tourists was 12.3 percent higher than September. Agricultural production, on the other hand, contracted as a result of this year’s drought crisis. In spite of this, the FPO still believes that the Thai economy remains stable and will not be affected by the volatility of the global economy.
Core inflation was reported at 1.5 percent in October, which is a decrease from last month’s figure of 1.8 percent. Meanwhile, the unemployment rate in Thailand was still relatively low at 0.8 percent.
Lastly, the Thai Foreign Exchange Reserves were as high as 160 billion USD.-VNA
