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New stimulus package planned for April launch

Mar 31. 2020
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By THE NATION

The government will launch additional stimulus measures in April to revive the economy which has been adversely affected by the Covid-19 outbreak, said Deputy Prime Minister Somkid Jatusripitak yesterday (March 30).

Somkid, Prime Minister Prayut Chan-o-cha, Finance Minister Uttama Savanayana and Bank of Thailand governor Veerathai Santipraphob met on the forthcoming measures on March 30.

The new measures require massive funding , part of which will come from the budget with the balance from borrowing.

The government will also cut back 10 per cent of the budgets disbursed to all ministries to create a central pool for emergency use. Regarding loans, the government will not borrow until the debt level has exceeded the statutory public debt ceiling.

Somkid denied rumours that Thailand would turn to the International Monetary Fund for loans , saying that Thailand has no need at all to borrow from any international financial institutions, but might seek funds from domestic sources.

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