Fiscal Policy Office states Thai economy grew in April

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BANGKOK, 29 May 2015,The Fiscal Policy Office (FPO) yesterday indicated that Thailand’s economy grew in April, thanks to the government’s financial policy. It however pointed out that the export sector still under-performed.

According to Miss Kulaya Tantitemit, Executive Director of the FPO’s Macroeconomic Policy Bureau, the overall economic situation showed signs of improvement in April, especially in the government budget disbursement, which has a deficit of 45 billion baht.

She stated that the government’s financial policy still plays a vital role in stimulating the local economy, particularly in the tourism industry, which saw 2.42 million foreign tourists visiting Thailand in April, an increase of 25.1 percent.

Miss Kulaya added that domestic consumption also showed growth signs, judging from the 2.5 percent increase in Value Added Tax (VAT) collection, which translated into 12.8 percent jump in domestic consumption. However, the export sector contracted 1.7 percent last month