Thailand’s economy sees highest growth in three years

11:07 | 27/05/2016 Global Economy

Thailand’s Gross Domestic Product (GDP) growth posted 3.2 percent in the first quarter of this year, the highest rate in the past three years.

Thailand’s economy sees highest growth in three years

A supermarket in Thailand - (Source:VNA)

According to the country’s National Economic and Social Development Board (NESDB), the achievement was due to the Thai Government’s stimulus measures and rapid improvement in the tourism sector.

The Thai Government has carried out 10 stimulus measures with a budget totalling 645 billion THB (18.1 billion USD), of which 518 billion THB (14.5 billion USD) was earmarked for several types of soft loans while the rest went to government spending.

Foreign arrivals recorded an increase of 15.5 percent to reach 9 million in the period.

However, the country’s economy is still facing several difficulties as exports declined 1.4 percent in the first quarter./.

 

Source: VNA

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