situation report

Aug 16, 2019 | 13:55 GMT

1 min read

Thailand: Finance Ministry to Announce Economic Stimulus Package

What Happened: Thailand's Finance Ministry will propose emergency economic measures to the country's Cabinet that could include up to 316 billion baht (roughly $10.2 billion) in stimulus, Bloomberg reported Aug. 15.

Why It Matters: Thailand's economy is facing increasing headwinds from the ongoing U.S.-China trade war, a slowdown in global demand and declines in tourist numbers. The country's gross domestic product is expected to expand at roughly 2.3 percent in the second quarter, which would mark its slowest growth rate in half a decade.

Background: Although Thailand recently underwent a political transition from military rule to a system with an increased role for civilian politicians, the army still retains significant power. However, a slowing economy could undermine the military's bid to hold on to power following elections in 2024.

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