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House Approves Executive Decrees To Boost Economy

Samui Times Editor



House Approves Executive Decrees To Boost Economy | Samui Times
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The House of Representatives has approved the government’s three executive decrees set forth to support and rehabilitate the economy as a result of the Covid-19 pandemic.

They include (1) the executive decree authorizing the Ministry of Finance to seek a one-trillion-baht loan for remedy and economic stimulus purposes, (2) the executive decree authorizing the Bank of Thailand to provide soft loans of five billion baht to help the business sector, especially SMEs, and (3) the executive decree involving four billion baht to stabilize the financial sector.

Prime Minister and Defense Minister General Prayut Chan-o-cha stressed the urgent need to assist people affected by the unprecedented COVID-19 pandemic. He said the country’s fiscal system is stable, with a high level of international reserves and a current account surplus. Moreover, he said the country’s public debt is still low, which enabled the government to seek more loans to help the people and restore the economy.

The decrees are set to be introduced to the Senate in the near future.

The Prime Minister stated that the Government was determined to tackle the people’s problems seriously. At the same time, it was also focusing on anti-corruption efforts and transparent management.

He pointed out that the country was now facing an unusual situation, saying that the government would do its best to take care of the people during this difficult time. The one-trillion-baht loan is, therefore, necessary to help ease the ongoing crisis.

SOURCE: Thailand PRD

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