snoop1130 Posted November 26, 2019 Share Posted November 26, 2019 New measures out to boost economic growth By THE NATION Finance Minister Uttama Savanayana, centre The Cabinet today (November 26) approved three new stimulus packages to prop up the softening economy, said Finance Minister Uttama Savanayana, adding that the measures aim to support small farmers, SMEs and property developers. Uttama expects the new measures to generate Bt80 billion to the economic system, which would in turn lift GDP growth to 2.6 per cent this year. The first package targets grassroot economy under the 2020 fiscal budget. 1.1 The government will allocate Bt14.348 billion to village funds for upgrading the infrastructure of villages, town communities as well as employment promotion. The eligible village funds are graded from A to C, totalling 71,742. Each village fund will get a maximum of Bt200,000. 1.2 The Bank for Agriculture and Agricultural Cooperatives (BAAC) will provide Bt50 billion to village funds, general public, community financial institutes, agricultural co-operatives, community enterprises, and farmers for operation expenses and to be used as revolving fund. The loan will carry 0.01 per cent interest rate per annum for the first three years. After that it will be subject to BAAC rate. The campaign will run from on December 1, 2019 to November 30, 2022. 1.3 The village funds will grant debt moratorium to members under criteria to be set by the funds respectively. 2. The second package will help farmers reduce harvesting cost and improve rice quality. Farmers, registered with the Department of Agriculture Extension this year, will be provided with financial aid for harvesting and rice quality improvement at Bt500 per rai or not exceeding Bt10,000 per household. Lands eligible for this programme is limited to not exceeding 20 rai per household. 3. The third package "Good House with down payment" aims to reduce home-purchase costs. The government will offer a cash-back of Bt50,000 per buyer on the down payment. To be eligible, the buyer must have a monthly salary not exceeding Bt100,000 and included in the Revenue Department's tax database of around 100,000 individuals under this category. The campaign will start tomorrow (November 27) and end on March 31, 2020. Source: https://www.nationthailand.com/business/30378767 -- © Copyright The Nation Thailand 2019-11-26 Follow Thaivisa on LINE for breaking Thailand news and visa info 2 Link to comment Share on other sites More sharing options...
Popular Post unamazedloso Posted November 26, 2019 Popular Post Share Posted November 26, 2019 1st measure wipe out corruption! meaning all officials need to be replaced... People just dont trust the country or have faith in it. Growth will follow... 4 Link to comment Share on other sites More sharing options...
Popular Post BestB Posted November 26, 2019 Popular Post Share Posted November 26, 2019 So the new idea is to ease ways for the poor to borrow money to get into bigger debt ? Yes they will rush in to cash in on it but how are they going to keep up with repayments when their work places close down? 8 1 Link to comment Share on other sites More sharing options...
Popular Post Fred white Posted November 26, 2019 Popular Post Share Posted November 26, 2019 1.1 that should help the village chiefs the villagers probably won't see anything 5 Link to comment Share on other sites More sharing options...
farmerjo Posted November 26, 2019 Share Posted November 26, 2019 1.1 Should be enough to fill a few potholes in the roads. Link to comment Share on other sites More sharing options...
worgeordie Posted November 26, 2019 Share Posted November 26, 2019 1 hour ago, snoop1130 said: Uttama expects the new measures to generate Bt80 billion to the economic system They are going to spend ,allocate Bt14.348 billion to village funds, (BAAC) will provide Bt50 billion to village funds, plus all the extra money that's been thrown about, I think a lot of that will be shall we say be diverted.and they are hoping it will generate Bt 80 Billion ,wild guess ? regards woregordie 2 Link to comment Share on other sites More sharing options...
Popular Post Cadbury Posted November 26, 2019 Popular Post Share Posted November 26, 2019 2 hours ago, snoop1130 said: The government will allocate Bt14.348 billion to village funds for upgrading the infrastructure of villages I remember when PM Prayut was handing out the pre election billions of baht Thai Niyom vote buying slush fund he promised all villages would have free internet access. Another failed dead in the water Pinocchio promise. Which make these government promise worthless. 3 1 Link to comment Share on other sites More sharing options...
Chazar Posted November 26, 2019 Share Posted November 26, 2019 7 hours ago, snoop1130 said: 1.1 The government will allocate Bt14.348 billion to village funds and what they DONT tell you is that the last few years 2 people ran the affairs of the village and the govt have now reduced that to 1 to save money. 1 Link to comment Share on other sites More sharing options...
Popular Post Chazar Posted November 26, 2019 Popular Post Share Posted November 26, 2019 5 hours ago, farmerjo said: 1.1 Should be enough to fill a few potholes in the roads. more hole than road 1 2 Link to comment Share on other sites More sharing options...
Chazar Posted November 26, 2019 Share Posted November 26, 2019 5 hours ago, Fred white said: 1.1 that should help the village chiefs the villagers probably won't see anything our last lot sacked for corruption 2 Link to comment Share on other sites More sharing options...
Chazar Posted November 26, 2019 Share Posted November 26, 2019 6 hours ago, BestB said: So the new idea is to ease ways for the poor to borrow money to get into bigger debt ? Yes they will rush in to cash in on it but how are they going to keep up with repayments when their work places close down? thats "tomorrow" and tomorrow doesnt exist for many 1 Link to comment Share on other sites More sharing options...
SkyNets Posted November 26, 2019 Share Posted November 26, 2019 Thailand, the stimulus package hub. 2 Link to comment Share on other sites More sharing options...
Destiny1990 Posted November 27, 2019 Share Posted November 27, 2019 (edited) Resale Condos have only lost value over the last 5 years (likely due to stricter visa requirements) so what’s the economical plan to revitalize condo sales and values? Edited November 27, 2019 by Destiny1990 2 Link to comment Share on other sites More sharing options...
pixelaoffy Posted November 27, 2019 Share Posted November 27, 2019 Only thing Thai Politicians who threw in their lot with the General can "boost" is their own positions. The hopelessness of a country that when another party comes along and challenges its "hypocrisy and failings" with new ideas and a new future .. is guess what .. Ban them . Needs a revolution, except Thais dont do them 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 27, 2019 Share Posted November 27, 2019 I used to think infrastructure improvements help everyone locally. The streetlight on the main road where my soi connects blew out early this year. Now I realize how good I have it. Driving at night, I look for the only soi with no streetlight—and turn into the darkness with confidence... 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted November 27, 2019 Share Posted November 27, 2019 I have little faith in these guys, I mean they can't even organise enough working microphones ! 1 Link to comment Share on other sites More sharing options...
30la Posted November 27, 2019 Share Posted November 27, 2019 Every day new news, you're on a carousel that runs faster and faster, and you don't know how to stop it! 1 Link to comment Share on other sites More sharing options...
Airalee Posted November 27, 2019 Share Posted November 27, 2019 17 hours ago, snoop1130 said: 3. The third package "Good House with down payment" aims to reduce home-purchase costs. The government will offer a cash-back of Bt50,000 per buyer on the down payment. Pulling demand forward by saddling people with debt in order to purchase overpriced houses/condos. What could go wrong? 1 Link to comment Share on other sites More sharing options...
Cadbury Posted November 27, 2019 Share Posted November 27, 2019 18 hours ago, snoop1130 said: New measures out to boost economic growth They will need to get serious..........if that's possible? Figures just released show an unprecedented drop in manufacturing output with a decline of 8.45% YoY. Primarily due to decreased production of cars, petroleum products and steel. Just about every financial indicator is in decline, except of course TAT tourist numbers. Never ending Mickey Mouse "eat, drink, spend, shop" stimulus campaigns and cheap loans for the punters are not going to cut it. The full impact of the high baht is yet to come as existing export contracts progressively expire. Heaven knows what's going to happen to rice exports now that international competitors prices are so much cheaper with their production costs dropping and their quality is improving. Vietnam wins the 2019 famous jasmine rice, Thai Hom Mali award. 1 Link to comment Share on other sites More sharing options...
Mavideol Posted November 27, 2019 Share Posted November 27, 2019 and every week we have one of this news economic stimulus packages proposals by Prayut's gang and yet the economy still sluggish and baht still appreciating, whatever they are trying (if they are trying?) it's not working and they are running out of options other than once and for all DEPRECIATE the damn baht and things will start to get back to normal and while they are at it, better change the military junta to give Thais some hope for a better future Link to comment Share on other sites More sharing options...
pixelaoffy Posted November 27, 2019 Share Posted November 27, 2019 5 hours ago, Mavideol said: and every week we have one of this news economic stimulus packages proposals by Prayut's gang and yet the economy still sluggish and baht still appreciating, whatever they are trying (if they are trying?) it's not working and they are running out of options other than once and for all DEPRECIATE the damn baht and things will start to get back to normal and while they are at it, better change the military junta to give Thais some hope for a better future all very well but "Change government" ? In our dreams Link to comment Share on other sites More sharing options...
kirbi53 Posted November 27, 2019 Share Posted November 27, 2019 more handouts I guess Thai lower income people will become sooooo reliant on these weekly monthly New Year handouts that I am sure they will vote for the current gang in the next election when ever that will be Link to comment Share on other sites More sharing options...
Redline Posted November 27, 2019 Share Posted November 27, 2019 Let me guess where 70 percent of the money will disappear to. Another disaster of policy 1 Link to comment Share on other sites More sharing options...
kevin612 Posted November 27, 2019 Share Posted November 27, 2019 I boost the Thai economy daily, the government should thank me. 1 Link to comment Share on other sites More sharing options...
Fred white Posted November 28, 2019 Share Posted November 28, 2019 19 hours ago, kevin612 said: I boost the Thai economy daily, the government should thank me. I did to 60000 Monday 10000 today Link to comment Share on other sites More sharing options...
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