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Thailand launches new economic stimulus package

The Thai government has freshly launched an economic stimulus package worth 21.8 billion THB (680 million USD) to deal with signs of an economic slowdown and spur domestic consumption to offset weaker exports.
Thailand launches new economic stimulus package ảnh 1Illustrative image (Source: thailand-business-news.com)

Bangkok (VNA) – The Thai government has freshlylaunched an economic stimulus package worth 21.8 billion THB (680 million USD)to deal with signs of an economic slowdown and spur domestic consumption tooffset weaker exports.

The package covers 13.2 billion THB of public welfarebenefits for low-income earners, the disabled, farmers and children. It alsoincludes tax measures worth 8.6 billion THB targeting those purchasing books,property and certain products such as uniforms, sports equipment and textbooksfor students.

Thai media quoted Nathporn Chatusripitak, spokesman toDeputy Prime Minister Somkid Jatusripitak, as saying the government hopes themeasures could help the economy grow by 3.9 percent in 2019, up from the recentforecast of 3.8 percent by the Fiscal Policy Office (FPO).

According to FPO Director-General Lavaron Sangsnit, the packageaims at beefing up the economy following signs of a slowdown in the firstquarter of this year.

The FPO has reduced its 2019 economic growth prediction forthe country to 3.8 percent from 4 percent over reduced exports. The forecast isin line with the Bank of Thailand’s current projection of 3.8 percent and theNational Economic and Social Development Council’s estimate of a range of3.5-4.5 percent. -VNA
VNA
#Thai government#new Thai economic stimulus package#Nathporn Chatusripitak#Thai economy#Thai Fiscal Policy Office#Lavaron Sangsnit#Thai economic growth#Vietnam News Agency#vietnamplus
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