Thailand Economic chiefs weigh steps to bolster growth

Below expectations: A busy traffic intersection is seen in Bangkok in this file picture. Thailand’s economy expanded 1.5% in the first quarter from a year earlier, the slowest pace of expansion among its regional peers. — AFP

BANGKOK: Thailand’s economic chiefs have underscored the need for urgent stimulus measures and improved access to credit for small business to accelerate growth rate in the short-term amid the highest interest rate in a decade and near-zero inflation.

The government will focus on boosting manufacturing and extending loan guarantees for small and medium enterprises (SMEs) to help lift potential growth rate to over 3.5% annually, according to Finance Minister Pichai Chunhavajira.