The Thai economy was expected to grow more than 3 per cent in the first quarter, boosted by a recovering tourism sector, increased private consumption and accelerated government spending, a news report said Thursday.
The prediction by the National Economic and Social Development Board (NESDB) comes on the heels of Prime Minister Prayut Chan-ocha's announcement of new large-scale infrastructure spending and the shelving of a controversial land and building tax.
More than 100 billion baht (3 billion dollars) was slated to be disbursed by the government during the first quarter on infrastructure and stimulus to small and medium companies, NESDB secretary-general Arkhom Termpittayapaisith was quoted as saying by the Bangkok Post.