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Export-led Thailand to unveil stimulus as trade war hurts growth

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The planned stimulus package is worth less than 100 billion baht and will help farmers while also boosting investment, tourism and consumption, Thailand's Finance Minister says. FMTNews

Thailand is vulnerable to US-China tension, as Asia’s top economy is its largest trading partner and biggest source of tourists.

There’s potential for 60 billion baht to 80 billion baht of stimulus steps, with every 30 billion baht able to lift economic growth by 0.1 percentage point, Siam Commercial Bank Pcl estimates.Calls are growing for governments around the world to loosen their budgets to tackle economic slowdowns. “Current math for the 2020 fiscal year suggests that there is ample room to increase spending and still keep within statutory limitations for the deficit and public debt levels,” said Radhika Rao, an economist at DBS Group Holdings Ltd in Singapore.

The planned stimulus package is worth less than 100 billion baht and will help farmers while also boosting investment, tourism and consumption, Finance Minister Uttama Savanayana said Thursday.

 

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