Friday, July 03, 2020

Thailand will work on strengthening local economy first: Somkid

Apr 22. 2020
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By THE NATION

Deputy Prime Minister Somkid Jatusripitak has called on the Finance Ministry, the Bank for Agriculture and Cooperatives as well as the private sector to work with local communities to develop large projects and come up with necessary measures to strengthen the local economy.

These projects will be launched in June as part of the government’s plan to restore the Covid-19 battered economy and will be funded partly by the Bt1 trillion loan the Finance Ministry will be taking.

Somkid added that Thailand has to focus on strengthening the local economy first as it will take a while before the global economy recovers.

Since Thailand’s export and tourism sectors are not likely to get better soon, the government will also promote local investment and domestic consumption to boost the economy.

He said that though Thailand has effectively curbed the outbreak, the government has to carefully consider all scenarios before deciding to relax some restrictions.

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