Thailand’s Cabinet has approved a package of measures worth 324.5 billion Baht (9.8 billion USD) to boost economic growth in the remaining months of this year.
The package focuses on two urgent measures of job generation and local residents’ income improvement.
In addition, the Cabinet will consider to accelerate the approval of 380 projects worth 429.2 billion Baht and increase investment for the fiscal years 2014 and 2015, according to Deputy Prime Minister Pridiyathorn Devakula.
A committee will be established to help the government supervise project implementation and provincial spending.
The package is expected to increase economic growth to 4.8 percent during 2015.
The global rating agency Fitch Ratings halved its growth forecast for Thailand to 1.2 percent this year, while the World Bank also considered lowering its estimates due to the country’s declining rates of consumption, investment and export./.
The package focuses on two urgent measures of job generation and local residents’ income improvement.
In addition, the Cabinet will consider to accelerate the approval of 380 projects worth 429.2 billion Baht and increase investment for the fiscal years 2014 and 2015, according to Deputy Prime Minister Pridiyathorn Devakula.
A committee will be established to help the government supervise project implementation and provincial spending.
The package is expected to increase economic growth to 4.8 percent during 2015.
The global rating agency Fitch Ratings halved its growth forecast for Thailand to 1.2 percent this year, while the World Bank also considered lowering its estimates due to the country’s declining rates of consumption, investment and export./.
