According to recent reports, the Thai government has confirmed it will delay an increase in the value added tax rate due to lackluster economic growth. The rate will stay at 7%. The country had been planning to increase the rate to 8% effective 1 October 2015 if the economy improved. Thailand's previous standard rate of 10% was reduced to 7% as part of special economic measures taken after the 1997 Asian financial crisis, and has been extended multiple time over the years.