BANGKOK, 24 September 2015 -The Ministry of Finance has reported that the Thai economy would recover, if more people were spending and money was being injected into the economy via private investments.
Finance Minister Aphisak Tantiworawon, says the government has taken the correct approach in spending 1.3 billion baht on attracting private investment instead of drawing them in through tax incentives.
The Ministry of Finance is also expected to provide greater access to people who want to own homes with loans available in collaboration with the Government Housing Bank. More information as to how they can obtain the loans will be revealed in two weeks time.
Mr. Aphisak believes it is an effective way to boost construction and property businesses over a short period of time. As for small and medium enterprises, he said, now that they are able to have their loans insured for 100 billion baht, the economy is likely to grow by 0.4% this year.