Thailand can add more economic stimulus if needed: Finance Minister By Reuters

Thailand can add more economic stimulus if needed: Finance Minister By Reuters

BANGKOK (Reuters) – Thailand is ready to add further fiscal support if a recently introduced stimulus package is insufficient, the finance minister said on Thursday, as the government tries to revive flagging domestic activity.

The government will take a few months to review the effect of the $10-billion package announced this month, as Thailand registered its weakest growth in nearly five years in the second quarter.

“We will wait for three to four months to see whether the measures are enough, as they are temporary,” Uttama Savana told reporters.

“If needed, we can introduce more, because our fiscal position is still strong.”

Uttama has said the stimulus package is expected to help lift growth in Southeast Asia’s second-largest economy to 3% this year. Last year’s expansion was 4.1%.

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