Government Announces Short-Term Boost To Economy

August 2005 | Economic Analysis

The slowdown in the Thai economy is becoming increasingly evident after real GDP grew by just 3.3% y-o-y in the first quarter of 2005, down from growth of 5.3% in the final quarter of 2004, and 6.1% for the whole of last year. The main cause of the slowdown has been the high oil price, which has led to a steep rise in imports, and slower growth in domestic consumption. In response to the slowdown the government has announced a series of reforms to boost growth, including the scrapping of fuel subsidies, and a decision to bring forward government investment

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