PM signals more stimulus packages to lift Thai economy

Thai PM Prayut Chan-o-cha says Thailand needs more measures to boost the local economy. He made the remark during the meeting of the Council of the Economic Ministers on Friday. The PM reassured the meeting that Thailand’s and other ASEAN economies were not in recession, but would have slower growth next year, so Thailand needs to come up with stimulus measures.

He added that Thailand’s monetary and fiscal policies must encourage domestic spending and investment. The meeting also gave the nod to guidelines to help small and medium sized enterprises (SMEs).

The guidelines cover 13 measures proposed by government aiming to improve SMEs’ access to capital, expertise and market access.

They include new types of SME loan guarantees, the promotion of software by SMEs to draw accounts and the launch of an SME festival.

In the past two month the government has unveiled two local tourism stimulus packages – Chim Shop Chai phases 1 & 2. The Finance Ministry reports that both were successful and a Phase 3 stream of the stimulus would be rolled out before the end of the year.

SOURCE: The Nation