Phase 2 of "Eat, Shop, Spend", steps for realty approved

[snoop1130]

Phase 2 of "Eat, Shop, Spend", steps for realty approved 

By The Nation

 

Uttama Savanayana

 

The Cabinet has approved the second phase of the government's economic stimulus “Eat, Shop, Spend” and support measures for the property sector to enhance growth, Finance Minister Uttama Savanayana said today (October 25). 

 

“We cannot be certain these measures will expand the economy by 3 per cent this year. The two schemes are expected to generate Bt60 billion to the economy, based on the results of previous econmic stimulus packages, he said.

 

Meanwhile, Krungthai Bank (KTB) President Payong Srivanich said the bank had upgraded its website to facilitate faster and easer registration for phase 2 of the “Eat, Shop, Spend” campaign. It has also incorporated biometric authentication support to ease the process. 

 

With regard to support measures for the real estate sector, Government Housing Bank President Chatchai Sirilai said the state bank would offer Bt50 billion in soft loans to homebuyers seeking to own a residence not exceeding Bt3 million in price.

 

These loans will carry a fixed interest rate of 2.5 per cent in the first three years, followed 2.5 per cent and 4.625 per cent in the fourth and fifth years. Registration will end on December 24.

 

“It offers the lowest rates in the market, aimed at reducing the cost of owning a home in the first three years. For example, if you apply for a Bt1 million loan, you have to pay only Bt3,300 per month in the first three years. The total interest payments will be Bt80,400 less than the existing rate for the first three years and Bt123,600 lower for the first five years, he said.

 

Source: https://www.nationthailand.com/news/30377742

 

-- © Copyright The Nation Thailand 2019-10-25

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[CALSinCM]

It more aptly should be called, Borrow, Eat, Shop, Spend!

 

 

 

Edited October 25, 2019 by CALSinCM

[orchis]

the application system crashed this morning

[Cadbury]

 

2 hours ago, snoop1130 said:

“We cannot be certain these measures will expand the economy by 3 per cent this year".

That's one thing you can be absolutely sure of.

Nothing is expanding in Thailand; except corruption perhaps. 

The economy is collapsing. Not even Supremo Prayut can put Humpty Dumpty back together again.

[30la]

What increase in the economy do you expect ???
All those who are eligible for this farce have to make a request to receive the 1,000 Baht, an expense, then, they have to move out of the province where they live (other expense) and go shopping in stores chosen by the government ...
I call this way "DICTATORIAL" operands.
In the end these people have less money available, some shops have grown and the finance minister collects a little more taxes! What the government (people) funded!
Like all the governments of this planet, even the Thai have learned well to tell lies and to believe it too!

Thai friends, begin to understand that this government gives you 1 Baht with one hand and with the other steals 10!

Edited October 26, 2019 by 30la

[30la]

14 hours ago, Cadbury said:

 

That's one thing you can be absolutely sure of.

Nothing is expanding in Thailand; except corruption perhaps. 

The economy is collapsing. Not even Supremo Prayut can put Humpty Dumpty back together again.

"Il Generalissimo" can!