The National Economic and Social Development Board (NESDB) has reported that the Thai economy was fully revived in the last quarter of 2012, with support from the government’s economic stimulus policies.
NESDB Secretary-General Akhom Termphitthayaphaisit said, on Sunday, that, in the 4th quarter of last year, the local economy had seen export growth of 20-22% and been stimulated by the government’s “First Car” policy.
Mr. Akhom added that, with the “First Car” policy’s boost for domestic purchasing power, the economy has likely grown by 5.5% during the last quarter of 2012.
In addition to the stimulus of purchasing power, he said that the “First Car” has also helped develop the quality of life and enabled the government to collect more tax revenue.
Meanwhile, Deputy Prime Minister and Minister of Finance Kittirat Na-Ranong said during the weekly “Yingluck Government Meets the People” TV program that the government would maintain its policies and economic plans to go in line with the current global economic conditions, after the US has reached the Fiscal Cliff deal.
Mr. Kittiratt stressed that a focus will be placed on the adjustment of the balance in the Thai economic system, in such a way that it is suitable for rising domestic purchasing power, boosted by the nationwide implementation of the 300-baht daily minimum wage.