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Thai government spending to target low-income groups - Finance Minister

16 Tháng Mười Một 2022
Thai government spending to target low-income groups - Finance Minister © Reuters. FILE PHOTO: Thai finance minister Arkhom Termpittayapaisith speaks during an interview with Reuters in Bangkok, Thailand, October 19, 2022. REUTERS/Athit Perawongmetha

BANGKOK (Reuters) - Thailand's economic stimulus policies will be more targeted towards vulnerable groups and low-income households, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

"Government stimulus will be lessened as more people come back to work," he told a business forum, adding growth was being driven by exports, government spending and tourism.

The economy should grow 3.4% this year and 3.8% in 2023, despite global headwinds, he said, while fiscal policy will be more focused.

He expects foreign tourist arrivals to reach 10 million this year.

The strengthening baht was not affecting recovery, he said. The baht has recovered to 35.53 on Wednesday, the highest in nearly three months.

Speaking at the same forum, assistant central bank governor Piti Disyatat said Thailand's economy was expected to reach pre-pandemic levels this year or early next year.

He added that central bank's approach to interest rates would be a continuation of its previous approach and that it would not "surprise the market".

The central bank's next monetary policy meeting will be on November 30.

Inflation is expected to be moderate and that the central bank would have to ensure economic recovery would not add inflationary pressures next year, he said.

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09-12-2022 03:04:36 (UTC+7)

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 USD/JPY136.68↑ Buy
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 USD/CAD1.3580↑ Buy
 EUR/JPY144.31Buy
 EUR/CHF0.9883↑ Sell
 Gold1,801.55↑ Sell
 Silver23.273↑ Sell
 Copper3.8800↑ Sell
 Crude Oil WTI71.60Neutral
 Brent Oil76.23Neutral
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 US Coffee C159.73↑ Buy
 Euro Stoxx 503,921.27↑ Sell
 S&P 5003,955.20↑ Sell
 DAX14,264.56↑ Sell
 FTSE 1007,472.17↑ Sell
 Hang Seng19,450.23Neutral
 Small Cap 20001,809.05↑ Sell
 IBEX 358,225.20↑ Sell
 BASF47.100Neutral
 Bayer52.73↑ Sell
 Allianz203.65↑ Sell
 Adidas117.54↑ Buy
 Lufthansa7.712↑ Sell
 Siemens AG132.00↑ Sell
 Deutsche Bank AG10.022↑ Sell
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