Retail, tourism and construction stocks are likely to benefit from cabinet approval this week of 17 billion baht in spending to stimulate the economy, says Asia Plus Securities (ASPS).
While the global economy is decelerating, especially the US and European countries, Thailand's economy continues to recover, said ASPS. To stimulate growth, the Thai government is preparing to introduce various measures with a budget of 17 billion baht for the remainder of 2022.
According to the National Economic and Social Development Board's latest forecast, the economy is projected to expand by 3% this year. GDP growth is expected to reach 3.6% in the second half this year, noticeably stronger than in the first six months.
