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InfoQuest

Thai MOF prepares a budget of about 20 billion baht

April 22, 2019


Abstract : In the wake of Fiscal Policy Office's (FPO) declaring a slowdown in the Thai economy for the second quarter, Thai Deputy Prime Minister Somkid Jatusripitak ordered the Ministry of Finance (MOF) to formulate a package of policies...

InfoQuest (April 19, 2019) -- In the wake of Fiscal Policy Office's (FPO) declaring a slowdown in the Thai economy for the second quarter, Thai Deputy Prime Minister Somkid Jatusripitak ordered the Ministry of Finance (MOF) to formulate a package of policies (like a tax relief for tourism and real estate) to stimulate the national economy. In addition, MOF was required to submit the stimulus package to the Cabinet meetings for review within two weeks in an effort to shore up the slowing national economy as soon as possible.

Finance Minister Apisak Tantivorawong expects an annual economic growth rate of about 3 percent, citing FPO's economic growth forecasts for the first two quarters. During the interim period before a new government comes in, MOF has planned a budget of about 20 billion baht to spur the national economy by, for example, tax relief to boost tourism and education, and national subsidy to help out families on low incomes.

Source: InfoQuest, by Tanit Tongnok / Nisarat / Rachada, translated by Xinhua Silk Road

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