The government will accelerate its investment spending and set a new target for economic growth this year, Finance Minister Pichai Chunhavajira said on Monday, as it seeks to kick start an economy that has lagged regional peers.
The government wants to see at least 70% of the investment budget disbursed within the current fiscal year ending September, Mr Pichai said at a meeting of economic ministers to discuss stimulus measures.
About 38.6% of investment budgets had been spent as of Friday, he added.
Mr Pichai has said the government plans stimulus measures in the short term to jumpstart its economy, which is expected to grow just 2.5% this year. He has said the economy should be expanding at least 3.5% annually.
Southeast Asia's second-largest economy grew 1.5% in the first quarter from a year earlier, slowing from 1.7% in the prior quarter.