Released yesterday, the report showed that while quarterly private investment and consumption slid, supporting the economy was the government's spending. In the quarter, Bt567.4 billion of government budget was disbursed, up 41.1 per cent on year, due to the economic stimulus schemes. In March, about Bt16.2 billion from the Cheque Chuay Chart scheme was disbursed and Bt14 billion of the free-education scheme was disbursed.
"The economic stimulus measures played a more important role in bolstering the economy, especially when domestic demand and private investment shrank largely. Though overall exports dropped due to the global economic conditions, some items showed an improvement particularly those in the agro-industrial and electrical and electronic products thanks to the demand recovery in the Middle East, China and Africa," said Ekniti Nitithanprapas, the ministry's spokesman.
"Overall, the economic fundamentals were in the satisfactory level, with low inflation and stable foreign reserves, despite risks in rising unemployment."