Economy may grow as forecast - deputy finance minister

Economy may grow as forecast - deputy finance minister

Shoppers browse products at Sampheng Market in Samphanthawong district, Bangkok. (Photo: Wichan Charoenkiatpakul)
Shoppers browse products at Sampheng Market in Samphanthawong district, Bangkok. (Photo: Wichan Charoenkiatpakul)

Thailand's economy may grow as forecast this year, helped by public consumption and investment after the formation of a new government, Deputy Minister of Finance Krisada Chinavicharana said on Friday.

Private consumption and tourism recovery are also helping, Mr Krisada told a business event. The ministry has forecast economic growth of 3.5% this year.

The new government led by Prime Minister Srettha Thavisin, who is also finance minister, is seeking to revive Southeast Asia's second-largest economy and deliver on key campaign promises after the May 14 general election.

The government is due to deliver its policy statement to parliament on Monday. 

Thailand's economy grew 1.8% in the April-June period on the year and 0.2% on the quarter, sharply slowing from the previous quarter's 2.6% and 1.7%, respectively, as weak exports and lower investments undercut strength in tourism.

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