Bank Of Thailand
1.9 Trillion baht stuimulus approved by HM the King
“His Majesty the King approved new stimulus measures and regulations to improve spending of 1.9 trillion baht to reduce the economic effect of the coronavirus (Covid-19)” – was published yesterday in the Thailand Royal Gazette.
The Royal Gazette specifies that the Stimulus shall take effect immediately.
The measures were approved by the cabinet during last week’s Tuesday meeting. Which allowed the government to borrow 1 trillion baht to spend public health and create jobs.
The Bank of Thailand will also be able to lend $500 billion to smaller businesses to finance the formation by Thai companies of a $400 billion baht fund.
It was predicted that Thailand would lose at least 1,3 trillion Baht and up to 10 million jobs. Most of them in the tourism sector.
SOURCE:Bangkok Post
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