Officials are evaluating the current state of the Thai economy and determining the appropriate stimulus measures.
Finance Minister Arkhom Termpittayapaisith earlier assigned the task to the Fiscal Policy Office (FPO). He directed the FPO to determine whether Thailand still needs more cash flow to be injected into its economy.
He commented that, even if the need is there for more economic stimulus programs, it is not necessary to borrow more. The minister explained that since the economy started to recover, the administration was able to earn more revenue. Thus, further evaluation is needed to determine the necessity of an additional stimulus package.
Minister Arkhom also talked about the recent instruction from Prime Minister General Prayut Chan-o-cha to find more lenders and potentially study the next phase of the government’s popular 50-50 copay campaign. He clarified that the order was actually to find capital to fund essential projects. The Finance Minister also stressed that borrowing is not the focus, as the nation already borrowed 1.5 trillion baht previously to mitigate the impact of the global pandemic.
Arkhom said that the economy of many countries are beginning to return to normal via investments, employment, and income generation. Thailand could also do the same, with the emphasis being placed on investment triggering more cash flow in the economy.
Careful consideration is being made for the next phase of the 50-50 copay program, as the initiative has a high upkeep cost. (NNT)