Economics
Thailand Plans $10 Billion Economic Boost to Hit 3% Growth
- U.S.-China trade war, surging baht have sapped Thai expansion
- Government plans spending to support economy in second half
The Port of Bangkok in Bangkok, Thailand.
Photographer: Dario Pignatelli/Bloomberg
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Thailand plans a 316-billion-baht ($10.2 billion) package of government spending and loans to counter an economic slowdown caused by the U.S.-China trade war and currency strength.
The package includes help for farmers and people on low incomes, as well as initiatives to bolster consumer spending and investment, Finance Minister Uttama Savanayana said in a briefing Friday in Bangkok. The proposal needs approval from the Cabinet.