August 29, 2019 / 11:18 AM / 3 months ago

Thailand can add more economic stimulus if needed - Fin Min

FILE PHOTO: Apisak Tantivorawong, Thailand's Finance Minister gestures during an interview with Reuters at the Finance Ministry, in Bangkok, Thailand, August 3, 2018. REUTERS/Athit Perawongmetha

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 Savanayana 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%.

He said a “relocation package” to attract foreign companies would not be discussed by economic ministers on Friday, as previously announced.

“It may be discussed at the next meeting,” he said.

Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Clarence Fernandez

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