InfoQuest (August 05, 2019) --After Finance Minister Uttama Savanayana unveiled policies to senior officials in the Ministry of Finance, he said he is going to submit a comprehensive package to the cabinet council in August, speaking of progress on economic stimulus measures. The measures initially determined will not be short-term measures, and the details of the measures will be considered in terms of necessities. At present, subdivisions under the ministry have been commissioned to be responsible for studying the factors weighing on economic expansion, so as to introduce corresponding measures.
"Before submitting the report to Deputy Prime Minister Somkid, the Ministry of Finance still needs to hold discussions on the package with multiple departments. The main measures related to the Ministry of Finance will focus on economic support, and immediate action should be taken in areas in need. For example, given a case when investment needs accelerating, measures should thus be tailored to address it", said the minister.
He noted that currently the ministry has no intention to increase added-value tax (VAT).
"It is not something that is up to the Ministry of Finance. Instead, it is a government-wide issue still needing discussions," Mr. Uttama said.
Source: InfoQuest, by Khara / Rachada / Sasithorn, translated by Xinhua Silk Road.
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