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Thailand’s Finance Ministry to issue stimulus measures to mitigate COVID-19 impacts

The Thai Ministry of Finance is working with the private sector to develop some 100 billion-THB worth support measures for affected persons and business operators, in the context of the global COVID-19 epidemic bringing significant disruption to both the Thai and global economies.
Thailand’s Finance Ministry to issue stimulus measures to mitigate COVID-19 impacts ảnh 1(Photo: thainews.prd.go.th)

Bangkok (NNT/VNA) - The Thai Ministry of Finance is working with the privatesector to develop some 100 billion-THB worth support measuresfor affected persons and business operators, in the context of the global COVID-19 epidemic bringing significant disruption to both the Thai and global economies.

These measures willinclude a liquidity enhancement campaign for low-income earners, freelanceworkers and farmers. With this campaign, the government will transfer supportbenefits, via the country’s PromptPay platform, to some 14 millionbeneficiaries, who will be able to use the money for spending onnecessities.

Soft loans will beoffered to SMEs and tourism businesses to help secure sufficient funding for theirbusiness operations, as well as special tax measures to encourage companies toretain their employees. The Revenue Department will issue a special guideline on reducing withholding tax payments to increaseliquidity.

A fund will be setup to support employers who continue to pay their employees during temporarywork stoppages.

These, plus aidmeasures for the stock market, will be proposed in the economic ministers’meeting on March 6./.
VNA
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