January 29, 2017

Extra public spending to lift growth by half-point

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Extra public spending of 190 billion baht planned for the current fiscal year is expected to boost economic growth by 0.4-0.5 percentage points this year, the finance minister said on Friday.

"Growth may not increase much but we hope the country will be able to compete and people's lives will get better," Apisak Tantivorawong told parliament.

Most of the budget will be for investment spending in the provinces to boost the local economy.

The Finance Ministry is currently predicting economic growth of 3.4% for 2017 and will give a new forecast on Monday.

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