Thailand's GDP will likely expand by 3 percent in the last quarter of this year and up to 4 percent in the first quarter of 2015, says Deputy Prime Minister M.R. Pridiyathorn Devakula.
Thailand's GDP will likely expand by 3 percent in the last quarter ofthis year and up to 4 percent in the first quarter of 2015, says DeputyPrime Minister M.R. Pridiyathorn Devakula.
According to theDeputy Prime Minister, the nation’s economic performance is slowlyregaining its strength and the GDP is expected to grow by 3 percent inthe fourth quarter of this year.
It is attributedto the Government’s disbursement of 700 billion baht worth of budget,increased public spending, and lower petrol prices; all of which havestimulated the private sector’s investment and employment.
The administration will continue to focus on its short-term economicstimulus policy during the next 1 - 2 months, which is expected to pushthe GDP for the first quarter of 2015 to 4 percent.
M.R.Pridiyathorn highlighted the Government’s assistance fund schemes forrice farmers and rubber planters, which are expected to be completed bythe end of this month.
He also said officials have put in placeseveral measures aimed at shoring up the prices of cassava, sugar canes,and sugar, while encouraging the industrial sector to save cost byusing more domestic materials in their production.-VNA
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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