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  1. #1
    Thailand Expat misskit's Avatar
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    Economics ministers approve 316 billion baht stimulus measures

    BANGKOK, 16th August 2019 (NNT) - Finance Minister Uttama Savanayana said today that the first meeting of the economics ministers chaired by Prime Minister Gen Prayut Chan-o-cha has approved urgent economic stimulus measures to raise confidence and generate greater cash circulation throughout the country. A sum of 316 billion baht in funds will be provided for the economic stimulus measures. If the cabinet approves them, the country’s economic growth will rise over 3%.


    The measures are to cope with three issues, including the drought problem which will be handled by the Bank of Agriculture and Agricultural Cooperatives. Some 990,000 drought-affected farmers in three provinces will be assisted with a debt moratorium and interest rate cut for a year. A sum of 50 billion baht in interest-free emergency loans will be provided for those farmers who can each borrow a maximum of 50,000 baht. In addition, a five billion baht supplementary loan will be provided for the rehabilitation of farm production. Each of the affected farmers can borrow a maximum of 50,000 baht. Besides, about three million rice farmers will be provided with loans for production in 2019/2020 season.


    A tourism promotion campaign will be launched to raise domestic consumption and investment with an e-wallet handout of 1,000 baht to each of the people aged 18 years or older. A total of 10 million people will be given the money to spend on food, goods and lodgings in provinces where they do not reside. In addition, those who spend via e-wallet more than 1,000 baht but no more than 30,000 baht will be entitled to a compensation pay of 15% of the total of the amount spent. That is designed to stimulate domestic tourism by the people. Detailed information about the tourism campaign’s measures will be provided by the Ministry of Tourism and Sports.


    The finance minister said a tax deduction measure will be provided for purchases of machinery by investors this year. The government will contribute more to the SME Development Fund in order to provide loans with low interest rates and seven-year repayments for SME operators.

    National News Bureau Of Thailand

  2. #2
    Thailand Expat
    Dragonfly's Avatar
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    here goes inflation and hopefully THB depreciation

  3. #3
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by Dragonfly View Post
    here goes inflation and hopefully THB depreciation
    Yep. Bring it on.

  4. #4
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    double edge sword, would make beers and all food imports even more expensive

  5. #5
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by Dragonfly View Post
    double edge sword, would make beers and all food imports even more expensive
    I can live with that. Aside from the occasional decent imported beer and beef, these days most of my eats are home grown.

  6. #6
    ความรู้ลึกลับ HuangLao's Avatar
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    Quote Originally Posted by Norton View Post
    I can live with that. Aside from the occasional decent imported beer and beef, these days most of my eats are home grown.

    ...as it should be.

  7. #7
    Thailand Expat
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    Quote Originally Posted by Norton View Post
    I can live with that. Aside from the occasional decent imported beer and beef, these days most of my eats are home grown.
    that's what expats forget when they move here, you have to go local to protect yourself from those currency fluctuations

  8. #8
    ความรู้ลึกลับ HuangLao's Avatar
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    Quote Originally Posted by Dragonfly View Post
    that's what expats forget when they move here, you have to go local to protect yourself from those currency fluctuations

    Many never learn, as they find it unworthy to adjust and acclimate.

  9. #9
    Thailand Expat
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    Quote Originally Posted by Dragonfly View Post
    here goes inflation and hopefully THB depreciation
    Thailand has a current account surplus of 7.5% of GDP ya muppet - 316 m THB is bugger all - all it does is get the poor farmers deeper in hock.

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