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Thailand Set To Dominate Recovery

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Thailand Set To Dominate Recovery | Samui Times
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Thailand is eyeing a huge recovery in the fourth quarter and has apparently secured the funds to do it. Apart from making investment opportunities more attractive, the government has allocated a large budget to rejuvenate the economy.

According to Deputy Prime Minister Somkid Jatusripitak, the government is planning to increase financial cooperation with China and Hong Kong that will lead to business expansions in Cambodia, Laos, Myanmar and Vietnam.

The Finance Ministry is reportedly securing a one-trillion-baht loan to pay for public health defences against the pandemic and to give aid to those affected by the crisis.

Mr Somkid said relief money worth 500 billion baht has reached people and is being circulated in the economy from April until next month.

Another 400 billion baht of aid is afoot, and is being vetted by the National Economic and Social Development Council (NESDC). This portion of the fund will be injected into the grassroots economy and create employment for those who returned to the provinces during the pandemic.

The fund will be spent effectively as it is subject to the NESDC’s examination and monitoring by the public and organisations such as the United Nations Development Programme (UNDP).

Projects approved for financing under the fund are posted at thaime.nesdc.go.th for greater transparency and public monitoring.

 

SOURCE: Bangkok Post

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