InfoQuest (November 24, 2020) - Permanent Secretary of Finance of Thailand Krisada Chinavicharana proposed to extend the second phase of "half per person" project to be launched in early December and then submitted his proposal to the Cabinet for approval.
At present, the Ministry is evaluating the number of people falling to receive the project benefits and registering in Krung Thai Bank system. It will also comprehensively group the 10 million people who have registered for the first phase.
"There may be 14-15 million people who still receive no benefits. We need time figure out the number and we have asked Krung Thai Bank to inquire about the maximum number of people registered in the past three rounds. At present, legal amount of funds specified in COVID-19 Act is 1 trillion baht, and the surplus of 400 billion baht for economic recovery can be used in this project or become a New Year gift package together other projects and policies.” Krisada said.
The second phase project may be extended for 3 months until after the Chinese Spring Festival. But extension means giving out money. Now, we are reviewing whether the amount of money distributed will be 3,000 baht as we did in the first phase. After all, the money that has not been distributed in the first phase may not be mixed with the money for second phase, and certain amount will not be distributed at the end of the first phase on December 31.
Prime Minister and Defense Minister Prayut Chan-o-cha ordered the Finance Minister to notice those 14 million national welfare card holders who fail to participate in the "half per person" project.
According to Krisada, Thailand's economy in Q4 2020 kept recovering as last quarter, with a growth rate forecast of 3-4 percent in 2021 due to the successful outbreak control, the recovering global economy, the gradual clarity of vaccine research outcome.
The Ministry of Finance has implemented policies conducive to economic development in many aspects, promoted government spending to become a sustained driver for economic recovery and intended to maintain employment levels in nest step.
"We are ready for sustained economic growth while strictly observing financial and fiscal discipline; we will introduce new policies to stimulate economic development in all dimensions. At present, government actions are subject to financial and fiscal discipline. The government is ready to take actions in all aspects to support efficient economic growth and cope with the complex and changeable economic situation. I believe that after this, the Ministry of Finance can restore investors' confidence." Krisada added.
Source: InfoQuest, by Koloreu / Tanawat / Sasithorn, translated by Xinhua Silk Road
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