Finance Ministry plans ‘New Year’s Gift’ for the people
The Finance Ministry is thinking about launching a new stimulus package as a “New Year’s Gift” for the public, Finance Minister Arkhom Termpittayapaisith said on Wednesday.
The planned package is aimed at boosting the economy at the end of the year, he said after delivering his policies to the ministry’s executives today.
The government has been launching several stimulus packages to lift the economy, which has been struggling in the fallout of Covid-19 outbreak.
Arkhom said he has also told the permanent secretary to set up a committee to ensure the disbursement of state budget is done soon and that state projects are on track.
The committee is expected to start operating in the next few weeks.
Meanwhile, the ministry will also focus on promoting investment in the much-touted Eastern Economic Corridor, he added.
When asked if the ongoing political rally will affect the economy, the minister said it would be business as usual for him if he were a businessman. However, he said at this time it is too early to tell if the rally will have an impact on businesses’ investment decisions.
On Monday, the Cabinet approved a new stimulus package granting personal income tax deductions of up to Bt30,000 per person to help boost spending on goods and services.
This measure will run from October 23 to December 31, and will apply to the 2020 tax year.
