Thailand’s finance minister has delivered some promising prognostications: the worst may be over for the economy (and in turn, its ETF, thanks to sweeping government spending.)
Government spending has spurred demand and created jobs, lifting the Thai economy out of the deepest throes of the recessions. If there are any hiccups in the stimulus efforts, a second package is at he ready. But for the time being, things are moving in the right direction, according to the Finance Minister Korn Chatikavanij.
Cash handouts have been administered to the poorest and the violent political protests that took consumer confidence are a thing of the past, reports Suttinee Yuvejwattana and Bernard Lo for Bloomberg.
Meanwhile, Thailand’s Prime Minister Abhisit Vejjajiva said he believes the country’s economy will post a positive growth rate by the end of this year. The sharp falloff in exports has shaken consumer confidence, but the strong fundamentals of the country are in place to help lessen the negative impacts, reports China View.
- iShares MSCI Thailand Investable Market Index (NYSEARCA:THD): up 43.6% year-to-date