No need for stimulus measures: TCC
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Thai Chamber of Commerce chairman Pramon Sutivong urged the government to stop launching new stimulus measures, even when the global economy is pressuring domestic consumption and investment.
At a press conference on Wednesday, he said the Thai economy is expected to grow 4 per cent or slightly lower in the second half of this year. Yet, he said that stimulus measures may distort the economy and lead to new problems.
He noted that as Thailand's household debts are at an extraordinarily high level, new measures could further boost the level. Those debts should be tackled first, before new measures will be launched and encourage more borrowing.
In light of global economic forecast revision by leading organisations like the International Monetary Fund and the Asian Development Bank, the Yingluck government is considering new measures to boost the domestic economy. The first set of actions was announced last week, focusing primarily on the production and distribution cost.
To Pramon, the government should rather improve the access to funding for small and medium-sized enterprises (SMEs).
