Several stimulus packages rolled out by the Thai government are all interconnected to support the slow economy and lay foundation for a solid economic recovery, Finance Minister Uttama Savanayana said on Wednesday.

Delivering a speech at a seminar, Uttama admitted that the Thai economy, like all economies, was not immune to negative external factors leading to lower exports and domestic spending.

The minister said he believed the stimulus packages rolled out by the government will keep the economy in shape and promote growth after the impacts of global slowdown subsides.

Uttama said he believed the economy will begin to pick up in later 2020.

“The stimulus packages were all designed to designed to help boost the grassroot economy, cut farmer’s costs and increase property sales,” said Uttama. “Each of the measure is unable to solely address the problem but may work together with other stimulus packages to sustain growth.”

Uttama said his ministry projects Thailand’s GDP to grow 2.7-3.7 percent next year.

Source: China ASEAN Business Council