The government is targeting economic growth of 3.5% this year, supported by tourism, foreign investment and government stimulus, a deputy finance minister said on Friday.
"We are not satisfied with 3.0% growth ... if we build efficiency and close the gaps, our target is 3.5%. We can take it there," Julapun Amornvivat told a business forum.
He said GDP growth for 2024 was estimated to have been 2.7% to 2.8%. Official data is due on Feb 17.
The next phase of government's cash handout programme is slated to start in the next quarter with another 150 billion baht (US$4.5 billion) to be distributed.
"This is a huge sum of money directly injected into the economy," Mr Julapun said.
The "digital wallet" handout scheme provides 10,000 baht ($300) each to an estimated 45 million people to spend in their localities within six months. So far about 17.5 million people have received payments since it started last September.
- Read more: Testing of digital wallet app under way
Other government measures to spur growth include an initiative to provide public housing for low-income earners and expanding universal healthcare.
Mr Julapun said the government was expecting foreign investment in new industries, which would also help growth.
Thailand is drafting a strategic plan to attract investment in the semiconductor and printed circuit board industries amid United States President Donald Trump's renewed trade war with China.
"When a giant moves, the entire house shakes," he said, referring to Trump's return to office.
Julapun: Government expecting foreign investment in new industries
