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Thailand’s Finance Ministry Will Inject Additional Money into Economic System


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BANGKOK (NNT) - Thailand’s Finance Ministry will inject additional money into the economic system in the fourth quarter, to provide further stimulus to the flagging economy amid the prolonged COVID-19 pandemic.

 

Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the fresh injection might be higher than that previously planned for the last quarter. The money will come mainly from three sources, namely the 500 billion baht borrowing under the existing second emergency loan decree, the 2022 fiscal budget and the state enterprises’ investment budget.

 

She said, of the 500 billion baht borrowing, at least 400 billion baht is expected to be pumped into the economic system in the fourth quarter of this year and the first quarter of next, adding that the economy in the second half of the year could expand less than in the first half because of the pandemic’s impact, which has dented domestic consumption and local investment.

 

Ms. Kulaya said, if the country achieves the targets of reopening and vaccination, the FPO expects the number of foreign tourist arrivals this year to reach 300,000, higher than the average forecast among research houses of 150,000. The FPO has seen a positive sign in the number of tourist arrivals, which reached 18,000 in July, the highest over 16 months. It expects the number to reach 200,000 in the fourth quarter.

 

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Real support to sustain real business in unusual times can be a prudent debt, for that is what it is on the balance sheet

 

Unlike a reserve currnecy merely printing baht or QE just dilutes the paper in circulation.The rich have no appetite for tax, the tourists dwindled and the poor and jobless cannot afford to pay more, so kick it down teh can to the grandkids or the queue of billionaire digital nomads chomping at the bit ?

 

BoT has been very prudent compared to many, however I regretfully belive many people can look forward to mnay more years of Mama Noodles, thin gruel and of course Joke in the LOS which I have never seen so subdued. Of cours eit's not over until ...the fat man returns?

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