The Thai Fiscal Policy Office (FPO) has reported that the country’seconomy has shown some positive sentiments as a result of domesticspending.
According to the FPO, the nation’s economy in Octoberhas been recovering as a result of growing domestic consumption and theprivate sector’s investment. Government spending increased by 42.3percent compared to the same period last year thanks to plans towithdraw 300 billion THB from the Central Budget to stimulate theeconomy.
Foreign tourist arrivals also increased for the firsttime in 10 months. In October, the number of tourists was 12.3 percenthigher 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 notbe affected by the volatility of the global economy.
Coreinflation was reported at 1.5 percent in October, which is a decreasefrom last month’s figure of 1.8 percent. Meanwhile, the unemploymentrate 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 Octoberhas been recovering as a result of growing domestic consumption and theprivate sector’s investment. Government spending increased by 42.3percent compared to the same period last year thanks to plans towithdraw 300 billion THB from the Central Budget to stimulate theeconomy.
Foreign tourist arrivals also increased for the firsttime in 10 months. In October, the number of tourists was 12.3 percenthigher 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 notbe affected by the volatility of the global economy.
Coreinflation was reported at 1.5 percent in October, which is a decreasefrom last month’s figure of 1.8 percent. Meanwhile, the unemploymentrate in Thailand was still relatively low at 0.8 percent.
Lastly, the Thai Foreign Exchange Reserves were as high as 160 billion USD.-VNA
