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Thai private sector calls for economic stimulus

The private sector of Thailand has called on the country’s Government to introduce economic stimulus packages to support economic growth in the remainder of 2019 amid growth slowdown, local media reported.
Thai private sector calls for economic stimulus ảnh 1A view of Bangkok capital city of Thailand (Photo: AFP/VNA)

Bangkok (VNA) – The private sector of Thailand hascalled on the country’s Government to introduce economic stimulus packages tosupport economic growth in the remainder of 2019 amid growth slowdown, localmedia reported.

Chairman of the Thai Bankers Association PredeeDaochai said on June 5 that the Joint Standing Committee on Commerce, Industryand Banking will ask the Government to launch an economic stimulus package,especially tax incentives.

Tax measures to boost spending and the propertysector could support domestic consumption and the Thai economy in the remainderof the year, he said, noting that an urgent economic stimulus is necessarybecause disbursement of the 2020 fiscal budget will be delayed by the processof forming the new government.

He added such measures are needed to support theThai economy amid external uncertainties, particularly the US-China tradetension.

Thailand’s economic growth this year is beingconstricted by the escalating trade war between the US and China. Givennegative external factors, the country’s exports contracted 1.9 percent year onyear in the first four months of 2019, compared with a growth rate of above 6percent in the same period of 2018.-VNA
VNA
#private sector of Thailand#economic stimulus packages#economic stimulus packages in Thailand#Thai economy#Thailand's economic growth#Chairman of the Thai Bankers Association Predee Daochai#Vietnamplus#Vietnam News Agency
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