Bank of Thailand upbeat about economic growth in Q3
Thailand’s economic growth in the third quarter is likely to improve from the second quarter’s reading, mainly thanks to positive tourism growth and the government’s economic stimulus measures, according to the Bank of Thailand.
The Bank of Thailand feels upbeat about the country's economic growth in Q3. (Photo: bangkokpost.com)
Bangkok (VNA) – Thailand’s economic growth in the third quarter islikely to improve from the second quarter’s reading, mainly thanks to positivetourism growth and the government’s economic stimulus measures, according tothe Bank of Thailand.
Senior Director at the BoT’s macroeconomic and monetary policy department DonNakornthab said GDP growth in the third quarter is expected to surpass 2.3percent, which was recorded in the second quarter, and the economic expansionwas supported by the government’s stimulus package, growth in the tourismsector and exports.
Thailand’s economy grew at the slowest pace in almost five years in the secondquarter as exports and tourism deteriorated, buffeted by the US-China tradetensions and the strong Thai baht.
GDP rose 2.3 percent from a year ago, down from 2.8 percent in the firstquarter, the National Economic and Social Development Council reported.
On August 20, the Thai cabinet gave the green light to a 316-billion-THB (10.13billion USD) stimulus package deemed vital to boosting the country’s economicgrowth by 0.5-0.6 percentage point this year./.
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The Bank of Thailand feels upbeat about the country's economic growth in Q3. (Photo: bangkokpost.com) 
