Finance Ministry to submit latest economic stimulus package to Cabinet

[webfact]

Finance Ministry to submit latest economic stimulus package to Cabinet

By Wichit Chaitrong
The Nation

 

Minister Uttama Savanayana will on Tuesday (November 26) submit to the Cabinet the latest economic package to boost the economy.

 

The Finance Ministry will on Tuesday (November 26) submit to the Cabinet its latest economic package to boost the economy, Minister Uttama Savanayana said.

 

The new package follows the scheme on consumption and tourism, known as “Eat, Shop, Spend”, which the government has been implementing.

 

Uttama’s announcement comes as the economy suffers slower growth – it grew just 2.4 per cent in the third quarter.

 

The package will cover four key areas.

 

The government wants to stimulate spending upcountry, the finance minister said. The package will also aim to boost investment in provincial areas via village and community funds, he added.

 

Additionally, the government will support people who want to own homes, he said.

 

Farmers will also receive subsidies for expenses on harvesting rice, Uttama said.

 

“The package will boost the economy in the fourth quarter and in the long term,” he said. 

 

Moreover, it will help the Thai economy to be immune to external uncertainties, he noted.

 

Uttama was optimistic that the package would encourage banks to lend more to support businesses.

 

Source: https://www.nationthailand.com/business/30378742

 

-- © Copyright The Nation Thailand 2019-11-26

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[leeneeds]

1 hour ago, webfact said:

Uttama was optimistic that the package would encourage banks to lend more to support businesses.

Banks want return on monies they don't stimulate patrons.

[ozz1]

It's a bit like adjusting the deck chairs on the titanic

[Cadbury]

Another stimulus package. They appear to be almost to be a weekly event these days. Seemingly it is the punters who are supposed to keep the wheels of the economy turning by holidaying, eating, shopping and spending, presumably with borrowed money. The government says it's going to throw stimulus money at something but doesn't say what.

By contrast only last week was Somkid out there drawing attention to the sad state of the economy by saying....... ssssh! "don't mention the economy". 

His reasoning being it might affect foreign investor confidence, to quote him:

"If we keep talking about it, it’ll make good things look bad, and this will have wide repercussions.”

https://thethaiger.com/hot-news/economy/deputy-thai-pm-dont-mention-the-economy

[RichardColeman]

2 hours ago, webfact said:

Additionally, the government will support people who want to own homes, he said.

Uttama was optimistic that the package would encourage banks to lend more to support businesses.

So, more debt for the average Joe to boost the economy

 

2 hours ago, webfact said:

Moreover, it will help the Thai economy to be immune to external uncertainties, he noted.

Not with Thailand blaming everyone and his dog outside of Thailand for the high Baht

 

[30la]

The politics of this government is based on ever bigger lies, and, like politicians all over the world, tell them without shame!

[peter14]

One word    LOL 

[hotchilli]

5 hours ago, webfact said:

The Finance Ministry will on Tuesday (November 26) submit to the Cabinet its latest economic package to boost the economy, Minister Uttama Savanayana said.

Eat shop spend #4 coming up in time for the new year!

[Srikcir]

9 hours ago, webfact said:

The package will cover four key areas.

The economic policies of the Prayut regime from 2014 to date appear to becoming analogous to  'socialism with Chinese characteristics.' 

https://en.wikipedia.org/wiki/Socialism_with_Chinese_characteristics

 

[Scot123]

I keep thinking to myself "There must be gold in stimulating packages" and certain people must be skimming off billions of dollars.