Thailand plans $3.2 billion stimulus to ease coronavirus impact next week - FinMin

 

A woman wearing a protective face mask walks in Bangkok, Thailand March 2, 2020. REUTERS/Chalinee Thirasupa

 

BANGKOK (Reuters) - Thailand's finance ministry will propose next week a package of measures worth more than 100 billion baht ($3.2 billion) to alleviate the impact of the coronavirus epidemic, the finance minister said on Wednesday.

 

The measures, to be submitted to a cabinet meeting on Tuesday, will include handouts, soft loans and steps to support the stock market, Uttama Savanayana told reporters.

 

(Reporting by Kitiphong Thaichareon, Writing by Orathai Sriring)

 

-- © Copyright Reuters 2020-03-04

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...the end is near.

So ole Prayut is going to dip his pocket, and hand over his loose change, WOW.????

Simply does nothing to encourage foreign visitors to come back and with ever dwindling numbers inbound those huge foreign currency reserves will need to be utilised more and more....

I know nothing about finance but from what I see and read surely it can't be long before they have to dip into their foreign reserves ? They are spending money hand over fist with a much reduced income from many sectors, but many sectors also have their arms outstretched  for a hand out.

 

Some one will be along soon to put me straight ???? 

Edited March 4, 20206 yr by Golden Triangle

34 minutes ago, Golden Triangle said:

I know nothing about finance but from what I see and read surely it can't be long before they have to dip into their foreign reserves ? They are spending money hand over fist with a much reduced income from many sectors, but many sectors also have their arms outstretched  for a hand out.

 

 

They had to jump in Thursday and Friday of last week to prop up the Baht on international markets when it was staring 32 to the $ in the face.....they jumped in and it moved around 60 Satang stronger.

Something I suspect they'll need to do on a repeated basis moving forward

15 hours ago, webfact said:

The measures, to be submitted to a cabinet meeting on Tuesday, will include handouts, soft loans and steps to support the stock market, Uttama Savanayana told reporters.

Or put another way : 

Handouts for the poor and needy to spend at 'connected' businesses.

Loans for the poor and needy to spend at 'connected' businesses.

Steps to support the financial stability of connected' businesses.

 

15 hours ago, Golden Triangle said:

I know nothing about finance but from what I see and read surely it can't be long before they have to dip into their foreign reserves ? They are spending money hand over fist with a much reduced income from many sectors, but many sectors also have their arms outstretched  for a hand out.

 

Some one will be along soon to put me straight ???? 

I was thinking the same thing... all these salvage packages for unemployed, out-of-work tourism sector begging for money, stimulus packages, SME's in financial trouble due to the economy..
the coffers must be getting low!

Here we go how about eat shop spread I mean spend where is the money coming from maybe from all the tourists and exports they seem to be getting

IMF last night put out a 50 billion dollar relief package for countries fighting the virus including EM countries like Thailand, wow, what a surprise and coincidence these gangsters come up with a relief package, at the very same time WOW,
 

they just waited until they had confirmation to use IMF money before gloating that there’re helping, hows that for thinking free societies are entitled, should be the gangster regimes are entitled, and owe huge debts to the west 

18 hours ago, webfact said:

steps to support the stock market

this is not for the average population

 

did they pay tax when they got big profits ?

1 hour ago, humbug said:

IMF last night put out a 50 billion dollar relief package for countries fighting the virus including EM countries like Thailand, wow, what a surprise and coincidence these gangsters come up with a relief package, at the very same time WOW,
 

they just waited until they had confirmation to use IMF money before gloating that there’re helping, hows that for thinking free societies are entitled, should be the gangster regimes are entitled, and owe huge debts to the west 

How about that for a coincidence! 555

This is the cabinet donating a month's salary, as promised.

I wonder how much of this money will fund its way into the pockets of the rich and powerful.  Disgraceful

"Pruni", "next week", "we are on it" !

 

They have no clue. And run like headless chicken.

 

2 billions ? "4 !"

"8 !"

"12 !"

"28968735873"

 

Next week : the BOT will cut interest rates (after USA, Canada etc.)

 

Why ?

 

They don't know. They think its trendy, fashion... Big guys are doing it, so let's mimic them.

 

More free money. For nothing. Because no demand... For credit. More fake money into useless pits (Thai Airways, other "public" companies, and cronie's friend's companies) without any effect whatsoever.

 

This time, there won't be any escape. "Timber !"

 

Welcome to the global impoverishment.

 

The way this government is acting, or rather not, subsidized funerals might be a helpful move