Thailand approves three measures to boost growth

Thailand's Deputy Prime Minister and Finance Minister Pichai Chunhavajira said the government has just approved three short-term measures to boost Thailand's growth rate to 3% this year, instead of the initially expected 2.4%.

The first measure is to increase the number of foreign visitors to Thailand this year by 1 million, to 36.7 million. This will help increase GDP by 0.12%.

The second is to accelerate the disbursement of the remaining 850 billion baht (over 23 billion USD) fiscal budget for 2024 (20% for investment), contributing to a 0.24% increase in GDP.

The final measure is to urge private investors, who have received incentives from the Board of Investment (BoI), to accelerate the implementation of their projects. If about 40 billion baht (more than 1 billion USD) of investment can be realized this year, Thailand's GDP could increase by 0.14%-0.15%.

The measures come as Thailand's GDP growth in the first quarter was 1.5 percent, the lowest among the 10 member countries of the Association of Southeast Asian Nations.

DO CAO

Source: https://www.sggp.org.vn/thai-lan-thong-qua-3-bien-phap-thuc-day-tang-truong-post744189.html