The Thai economy is on the path to recovery after several economic
indicators in July showed positive signs, according to the Fiscal Policy
Office (FPO).
Positive signs included increased consumption
and investment in the private sector and improving confidence among
consumers and industrialists, FPO deputy director Ekniti Nitithanprapas
was quoted by PBS TV bulletin as saying.
Rising
consumption in the private sector was reflected by the value-added tax
collection which rose by 3.6 percent year-on-year while the consumer
confidence index increased for three months in a row to 68.5 and was at a
new 11-month high, he said.
Spending in the government sector
also rose in July when government organisations disbursed 200.2 billion
THB to spur economy.
The budget disbursement was up by 17
percent year-on-year compared with a decline of 1.1 percent in June.
Meanwhile imports of capital goods went up by 5.5 percent year-on-year.
Thai export value, excluding gold products, also
rose by 0.8 percent to 18.9 billion USD in July, a decline of 0.9
percent over the same period last year.