New stimulus to turbocharge GDP

Much higher growth projected in Q4

- WICHIT CHANTANUSORNSIRI

New Finance Minister Ekniti Nitithanprapas says the government's economic stimulus plan will enable GDP expansion of more than 1% in the fourth quarter, up from an earlier forecast of just 0.3%.

In the first quarter of this year, the Thai economy grew by 3.2%, dipping to 2.8% in the second quarter. For the third quarter, growth is projected at 1.7%, while for the final quarter, the initial forecast was a mere 0.3%.

However, Mr Ekniti said five measures in the fourth quarter should help lift GDP by another 0.2-0.4 percentage points, raising growth to around 1%.

Regarding the “Khon La Khrueng” co-payment scheme, which will be submitted to the cabinet on Oct 7, he said registration for the public will be open from Oct 20-26, with the scheme starting on Oct 29. Total spending under this scheme is estimated at 66 billion baht.