Bt170-bn stimulus to focus on tourism boost as economy slows
The Bt170 billion government stimulus package will be submitted for Cabinet approval on August 19, say top Finance Ministry officials.
Lavaron Sangsnit, the director general for the fiscal policy office, said today (August 8) that the package aims to boost inbound tourism, and promote travel within the country by both Thais and foreign tourists.
The stimulus will also support farmers, small businesses and middle income earners, he said.
The package comes after a sharp slowdown in economic growth to 2.8 per cent in the first quarter.
The government is also worried that a stronger baht and weaker Chinese yuan would adversely affect the number of Chinese tourists visiting Thailand.
The Bank of Thailand on Wednesday cut its policy rate by 25 basis points to 1.5 per cent, in a move intended to drive the economy, he said.
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