Uttama expect Economic stimulus package contribute
at least 200 billion baht turnover second half this year. 17-8-2019–Yesterday evening(16August), Dr.Uttama Ministry of Finance posted on his personal Facebook page that the Ministry of Finance have prepared economic stimulus measures to propose to the Cabinet for approval in order to cope with the volatility from the slowing down global economy that has also impacting Thai exports.
Finance ministry therefore proposed urgent measures aim to stimulate domestic consumption and have to increase the spin cycle of the money spread to various groups as broadly as possible. There are three (3) main areas for the urgent measures to stimulate Thai economy, comprised of; 1) Measures to help farmers who are affected by drought, such as helping farmers relax debt, special support for interest both supporting new loans and planting costs by compensating the rice planting of four (4) million households 500-800 baht per rai, not exceeding 15 rai or with in the overall amount of 57 billion baht. In addition, there will be the emergency loan to support the drought victim to lend 500,000 baht / person, excluding interest in the first year, with in the overall amount of 55 billion baht. Provide income insurance for farmers in the main economic crops, both to insure 10,000 baht/ ton for paddy and to insure15,000 baht/ton Jasmine rice 105 paddy , within the 53 billion baht overall limit. Provide income insurance for cassava, rubber price 60 baht / Kg, with in the limit of 35.743 billion baht, for palm oil price four (4) baht / Kg , with in the limit of 10 billion baht covering 6.23 million households in total. 2. Measures to improve welfare for low-income people through the new state welfare card, the groups has less than100,000 baht/year income will receive living expenses 200 baht / person, travel expenses 1,500 baht / person, discount on LPG gas 45 baht / person / Threes(3) months, vocational training cost 100 baht / person. For the groups has less than 30,000 baht / Year income, will get a living cost 300 baht / person, travel expenses 1,500 baht / person, discount LPG gas cost 45 baht / person / Threes (3) months, vocational training cost 100 baht / person. 3. Measures to stimulate consumption and investment in countries such as stimulating tourism in both major cities and secondary cities to spread to all areas covering consumer spending, accommodation and shopping for community products, by preparing to give 1,500 baht/person for travel around the country, targeting 10 million people. For SMEs entrepreneurs and small entrepreneurs across the country, the government has prepared special measures to help accessing to funds to maintain liquidity, including investment support for machine modifications. The government is confident that, This set of measures will be able to alleviate the suffering of the people in accordance with the goals and believe that it will be able to cope with the effects of the global economy by assessing this set of measures will result in a total turnover of not less than 200 billion baht in the second half of this year.
