BANGKOK, June 24 (Reuters) – The Thai cabinet has approved infrastructure projects valued at 115 billion baht ($3.5 billion) as part of efforts to stimulate economic growth, according to Finance Minister Pichai Chunhavajira. The move aims to counterbalance the effects of U.S. tariffs on the economy. “This significant spending is intended to stimulate the economy and enhance its potential,” Pichai stated.
The approved projects encompass new road construction, power infrastructure, and facilities to improve access to drinking water. These initiatives are projected to increase GDP growth by 0.4 percentage points, the minister added. Additionally, soft loans worth 200 billion baht will be made available to support exporters.
— News Original —
Thai cabinet approves projects worth $3.5 bln to stimulate economy
BANGKOK, June 24 (Reuters) – Thailand ‘s cabinet has approved infrastructure projects worth 115 billion baht ($3.5 billion), Finance Minister Pichai Chunhavajira said on Tuesday, as the government seeks to boost the economy to offset the impact of U.S. tariffs.
“This large expenditure is to achieve the objective of stimulating the economy and increasing potential,” he said.
Sign up here.
The projects include new roads as well as power infrastructure and facilities to improve access to drinking water. They are expected to boost GDP growth by 0.4 percentage points, Pichai said.
Separately, there will be soft loans worth 200 billion baht to help exporters, he added.
($1 = 32.76 baht)
— news from Reuters