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Thailand to announce economic stimulus packages for farmers

The Thai government will announce economic stimulus packages for poor people in rural areas as part of an effort to bring GDP growth to over 3 percent in 2019, Deputy Prime Minister Somkid Jatusripitak has said.
Thailand to announce economic stimulus packages for farmers ảnh 1Thai farmers are expected to benefit from new government stimulus measures (Photo:Bangkok Post)

Bangkok (VNA) – The Thai governmentwill announce economicstimulus packages for poor people in rural areas as part of an effort to bring GDP growth to over 3 percent in 2019, Deputy Prime Minister Somkid Jatusripitak has said.

The government will order the Bank for Agriculture andAgricultural Cooperatives (BAAC), Finance Ministry, Housing Fund and IndustryMinistry to cooperate on taking new measures for farmers under the Pracha Ratscheme, the Deputy PM told media.

Relevant agencies will start discussion on the packages immediately,he said.

According to Deputy PM Somkid, theagricultural sector is a key economic engine for the country, but farmers havelimited incomes.

The Industry Ministry must supportfarmers through projects to increase their efficiency and promote the developmentof agricultural products because the agricultural sector is being promoted asone of 12 targeted industries under the government's S-curve policy.

According to the National Economic and Social Development Council (NESDC) of Thailand,the country’s economy grew by 2.3 percent year-on-year in the second quarter of2019 – the lowest GDP expansion since the third quarter of 2014. In the first quarterof the year, the economy grew by 2.8 percent.-VNA
VNA
#Thai government#economic stimulus package#GDP growth#agricultural sector#S-curve policy#Vietnamplus#Vietnam News#Vietnam News Agency
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