11:20 | 14/01/2016 Global Economy
The Thai Government will continue to issue additional economic stimulus packages after previous measures brought upbeat initial success, said government spokesman Sansern Kaewkamnerd on January 4.
Shoppers at a supermarkets in Thailand (Photo: Getty Images)
According to him, policy research and planning agencies are pleased with the economic boosters approved in late 2015 because it has added greater vibrancy to local shopping malls and resulted in more orders in both goods production and services.
In early December last year, the Thai Government declared two-year tax exemption for enterprises with revenue under 500 million THB and good tax records.
On December 31, the Bank of Thailand (BOT) revised it 2016 growth forecast down to 3.5 percent from the previous 3.7 percent. The decision stemmed from reports on outside risks that could hamper the nation’s export.
The BOT said public investment channelled into major projects, inpidual consumption and tourism recovery cannot counteract export reduction. However, there will be a chance for the economy to grow 3.5 percent next year if public investment is disbursed on schedule, it added.
A recent survey showed that most Thai citizens want their government to shake up the local economy and address the living costs and unemployment issues. In the survey, which was conducted from December 25, 2015 to January 2, 2016, 82 percent of polled people said they want the economy to gain momentum, 77 percent hope for a revival of tourism, trade and export, and some 63 percent urge solutions to issues related to living expenses and wage./.