Finance Ministry to submit latest economic stimulus package to Cabinet
The Finance Ministry will on Tuesday (November 26) submit to the Cabinet its latest economic package to boost the economy, Minister Uttama Savanayana said.
The new package follows the scheme on consumption and tourism, known as “Eat, Shop, Spend”, which the government has been implementing.
Uttama’s announcement comes as the economy suffers slower growth – it grew just 2.4 per cent in the third quarter.
The package will cover four key areas.
The government wants to stimulate spending upcountry, the finance minister said. The package will also aim to boost investment in provincial areas via village and community funds, he added.
Additionally, the government will support people who want to own homes, he said.
Farmers will also receive subsidies for expenses on harvesting rice, Uttama said.
“The package will boost the economy in the fourth quarter and in the long term,” he said.
Moreover, it will help the Thai economy to be immune to external uncertainties, he noted.
Uttama was optimistic that the package would encourage banks to lend more to support businesses.
