BANGKOK (Reuters) - Thailand’s economy could grow more than 1 percent in April-June from a year earlier after contracting in the first quarter, helped by the payment of arrears to rice farmers under the new military government, a Finance Ministry official said on Thursday.
The ministry’s fiscal policy office chief, Somchai Sajjapong, repeated full-year growth would be at least 2 percent and that the ministry was aiming for 3 percent.
The army seized control of the government on May 22 to end months of political unrest. The new rulers said this week they would pay some 90 billion baht ($2.75 billion) owed to farmers within a month and that could boost economic growth by 0.2 percentage point this year
In March, the ministry cut its GDP growth forecast to 2.6 percent from 4 percent. The economy grew 2.9 percent in 2013.
($1 = 32.7100 Thai Baht)
Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Alan Raybould