JSCCIB to hand economic proposal to government

 

   

BANGKOK, 10 May 2019 (NNT) - The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is to hand its economic proposal to the incoming government focusing on economic stimulus measures to supplement those introduced to cover the political transition period.

 

The JSCCIB President, Suphan Mongkolsuthee, said today the Thai economy continues to face risk factors from the global economy, with its export sector still under pressure from the trade war between China and the United States. Such circumstances dampened growth during the first quarter this year to just 3.7 percent.

 

Mr. Suphan pointed out that measures issued by the Ministry of Finance to prop up the economy during the political transition period will have limited effectiveness, as clarity on state and private spending will only be achieved once the new government is firmly in place. The committee has maintained its growth forecast for the Thai economy in 2019 at 3.7 to four percent, with exports to expand three to five percent and inflation to hover between 0.8 and 1.2 percent.

 

The JSCCIB believes that the new government will need to issue a further economic stimulus and has thus established a committee to draft a document proposing economic stimulus measures. The document should be completed by July and will include regular meetings between the state and private sector every three months, measures to prompt buying and measures to improve ease of doing business.

 

The announcement comes after the Fiscal Policy Office (FPO) decided to maintain the policy interest rate at 1.75 percent per year, acknowledging sluggish economic growth.

 

 

-- © Copyright nnt 2019-05-10

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It will be handed to them together with an unopened crate of stout brown envelopes no doubt

6 hours ago, webfact said:

The JSCCIB believes that the new government will need to issue a further economic stimulus

So Prayut just continues his stimulus programs.