Thailand to stimulate consumption, grassroots economy with 400 billion Baht budget

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Prime Minister Gen. Prayut Chan-o-cha.
Prime Minister Gen. Prayut Chan-o-cha.

At the Inner Santi Maitri Building, Government House, following the weekly cabinet meeting, Prime Minister and Defense Minister Gen. Prayut Chan-o-cha disclosed about the Royal Decree on stabilization of national economy and financial system, B.E. 2563 (400 billion Baht), gist of which is as follows:

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According to the Prime Minister, the Royal Decree is aimed to stimulate domestic consumption and grassroots/community economy, enhance liquidity of the business sector, and increase employment, especially for new graduates. The stimulus scheme will be implemented through various financial, fiscals, and tax measures in a bid to reduce financial burden of entrepreneurs and farmers.

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The Government will make sure that the budget be used for the benefits of all groups of people.

The Prime Minister affirmed that utilization of the 400 billion Baht budget will not be redundant with existing expenditure plan and investment projects for fiscal years 2020 and 2021.

The people may propose projects for funding under the Royal Decree through integrated provincial administration committee who will forward the proposal to a scrutiny committee. They can also scrutinize budget utilization and follow up on the progress of each project via website “ThaiMe” from July 2020 onward. (Thaigov.go.th)