Thai economy seen contracting less than forecast this year

[BANGKOK] Thailand's economy is likely to shrink less this year than the record 8.5 per cent projected previously, helped by government stimulus measures, the finance ministry said on Tuesday.

The shrinkage could be less than the central bank's latest projection for a 7.8 per cent contraction, Lavaron Sangsnit, head of the finance ministry's fiscal policy office, told a briefing.

On Tuesday, the Cabinet approved measures expected to inject US$2.56 billion into the economy in the final quarter of this year, he said.

REUTERS