Thread: Thailand : Goverment budgets B1.22 trillion for stimulus plan

Goverment budgets B1.22 trillion for stimulus plan
Sunday October 26, 2008 12:22

Deputy Prime Minister and economic czar Olarn Chaipravat said the government will apply six more economic measures to cope with the impact of the economic breakdown in the United States and Europe.

He said the measures will need 1.22 trillion baht, of which about 450 billion will be injected into the credit system for small and medium enterprises (SMEs) as well as small farmers and 110 billion will be used to encourage investment in the stock market.

Mr Olarn said the government will not face a budget deficit, since the money will come from the private sector, banks and state enterprises.

Mr Olarn said he will discuss concrete ways to take care of the plummeting para rubber prices with relevant ministers later this week.

The deputy premier believed that if the government’s six economic measures are even 80 per cent effective, growth in 2009 could reach four per cent.

bangkokpost.com

growth in 2009 could reach four per cent.

just weeks ago the forecast was 6 ................

.

Originally Posted by Mid

and 110 billion will be used to encourage investment in the stock market.

fcuking incredible

with that kind of money they could clean SET up at today's prices

that's the gross not the net ,

certain expenses have yet to be covered

yep, accounts need topping up