Tuesday, February 25, 2020

More stimulus measures on the way, says Somkid

Feb 13. 2020
Deputy Prime Minister Somkid Jatusripitak
Deputy Prime Minister Somkid Jatusripitak
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By THE NATION

The government will launch additional stimulus measures to prop up the declining economy, said Deputy Prime Minister Somkid Jatusripitak on Wednesday (February 12).

It will make fresh injections into more than 70,000 village funds nationwide in March or April, he said. 

Somkid also ordered the Finance Ministry to seek new loan sources to implement necessary projects.

He also instructed all state agencies to prepare for disbursement of the fiscal 2020 budget, expected to begin in April.

Meanwhile, the Finance Ministry has been told to hasten launch of phase 4 of the Eat, Shop, Spend campaign, aimed at boosting the subdued tourism sector.

Thailand has been facing many risk factors, including delays of the 2020 fiscal budget and impacts from the coronavirus outbreak with many banks and economic research houses revising downward their previous growth forecast of the country's gross domestic product.

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