Thailand new economic rehabilitation plan focuses on SMEs incentives

Finance Minister Predee Daochai.

Energy Minister Supattanapong Punmeechaow said a new economic rehabilitation plan would be completed within this month and it would not focus on cash handouts.

Please Support Pattaya Mail

Mr Supattanapong said the new package of economic stimulus measures would not see noticeable cash handouts as before. There might be cash handouts but the amount would be cut, he said.

Energy Minister Supattanapong Punmeechaow.

A part of the package would reduce people’s expenditure, he said.

Mr Supattanapong mentioned the prime minister’s economic policies that focused on help for jobless people and small and medium-sized enterprises, incentives for operators to keep their employees and job creation for new graduates.

Meanwhile, Finance Minister Predee Daochai said the national economy should contract by 7.5% this year and slowly improve next year.

Short-term economic challenges were declines in tourists and exports, an increase in unemployed people to 745,000 who formed 2% of the total labor force, and limited money for economic stimulation, he said.

His urgent policies included cost of living reduction and employment for low income-earners, support for SMEs, acceleration of government spending and improved collection of government revenue, Mr Predee said. (TNA)