Thai economy in recession, needs a boost -deputy finmin

BANGKOK: Thailand's economy is in a state of recession owing to a high level of household debt, a deputy finance minister said on Monday, raising pressure on the central bank to cut interest rates.

Deputy Finance Minister Julapun Amornvivat also said the government was committed to delivering on its signature 500 billion baht ($14 billion) handout plan of transferring 10,000 baht ($281) each to 50 million Thais, and hoped a delay in its rollout would not be long.