Thursday, December 05, 2019

Uttama signals launch of new stimulus measures

Nov 20. 2019
Finance Minister Uttama Savanayana
Finance Minister Uttama Savanayana
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By THE NATION

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Finance Minister Uttama Savanayana said today (November 20) that the government may launch additional measures to help lift the economy before 2020.

"The ministry is monitoring the economic situations. It's possible that we'll launch additional economic stimulus measures," he said, adding that the new measures would support all sectors, including SMEs, and boost local consumption.

On November 19, Prime Minister Prayut Chan-o-cha urged the Council of Economic Ministers to prioritise solving the problems of grassroot people.

He said the ministers would have to solve economic problems for people at all levels of society, especially low-income earners. The premier expressed his concern after a briefing by the National Economic and Social Development Council on the economic situation in the third quarter.

In a related matter, the Thai Industries Sentiment Index in October slid to 91.2 from 92.1 in September, hitting the lowest point in 17 months since last June.

The drop was partly attributed to SMEs'difficulty in accessing funds as banks have been more prudent in lending, coupling with the strengthening baht and the prolonged US-China trade war.

A positive factor in October was that businesses were receiving more orders form foreign customers for New Year-related products, especially fashion and food items.

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