Thai economy to grow by 2 percent
Thai Prime Minister Abhisit Vejjajiva
on July 23 predicted the country's economy will grow by two percent
next year following a second stimulus package.
Thai Prime Minister Abhisit Vejjajiva
on July 23 predicted the country's economy will grow by two percent
next year following a second stimulus package.
The PM said this at a workshop in Bangkok, adding that domestic growth would pick up in the second and third quarters of this year, leading to positive growth by the end of the year.
The Thai economy slipped into recession in the first quarter of this year as GDP growth shrank by a bigger than expected 7.1 percent due to tumbling exports while tourism was hit hard by political unrest at home.
The Thai government plans to spend 22 billion USD over the next three years, which it says will create up to two million jobs.
The money is to be spent on long-term projects such as education, irrigation systems and health care facilities.
A first stimulus package of 3.3 billion USD was unveiled at the end of January, aimed at combating the short-term economic gloom caused by last year's airport blockades and the world financial crisis./.
The PM said this at a workshop in Bangkok, adding that domestic growth would pick up in the second and third quarters of this year, leading to positive growth by the end of the year.
The Thai economy slipped into recession in the first quarter of this year as GDP growth shrank by a bigger than expected 7.1 percent due to tumbling exports while tourism was hit hard by political unrest at home.
The Thai government plans to spend 22 billion USD over the next three years, which it says will create up to two million jobs.
The money is to be spent on long-term projects such as education, irrigation systems and health care facilities.
A first stimulus package of 3.3 billion USD was unveiled at the end of January, aimed at combating the short-term economic gloom caused by last year's airport blockades and the world financial crisis./.
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