HM the King approves 1.9 trillion baht stimulus for Thailand

A royal endorsement was published in Thailand’s Royal Gazette yesterday saying, “his Majesty the King has approved new stimulus measures and laws to enforce spending worth 1.9 trillion baht, to lessen the impact of the coronavirus (Covid-19) on the economy”.

This will take effect immediately according to the Royal Gazette. Read more about the 1.9 trillion baht stems package HERE.

The measures, were approved by cabinet during their weekly Tuesdaymeeting last week, allowing the government to borrow 1 trillion baht to be used for public health spending and job creation. The Bank of Thailand will also be allowed to lend 500 billion baht to smaller businesses owners and to set up a 400 billion baht fund to support Thai companies.

Thailand has been predicted to lose at least 1.3 trillion baht, (most of it in the tourism sector) and up to 10 million jobs.

SOURCE: Bangkok Post