Fourth quarter economy remains sluggish

Economy in the fourth quarter of this year is quite sluggish, with expansion lower than the third quarter, permanent secretary of Finance Mr Somchai Sujjapongse said yesterday.

With the sluggish economy, he said, it prompted the ministry to come up with new measures to stimulate more domestic spending and tourism.

This include a measure to lower tax on luxury goods, such as perfume and cosmetics, which has already gotten approval from the Commerce Ministry and would be put in force on a temporary basis from February to March 2017.

Mr Somchai also said the Finance Ministry has forecasted that the economy in 2017 should expand by 4-4.5 per cent, with investments from the private sectors, and state investments on basic infrastructures as the main drivers.

Source: Thai Public Broadcasting Service (Thai PBS)

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