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The Finance Minister aims to publish the ’64 stimulus measures, eliminating the “half to half” project, Phase 2, beginning January 1, 1964, in the hope of helping the economy expand in a 4.5% next year, indicating that the Thai economy has broken through its lowest point this year. Continue investing in infrastructure – tax reform
Mr. Archom Termpittayaphaisit The Finance Minister said that in 64 the government continued to stimulate the economy. After the COVID-19 outbreak has been resolved, especially to stimulate domestic consumption.
The Finance Ministry plans to issue measures for the middle of the second phase, which will begin on January 1, 1964, and is believed to stimulate domestic consumption. Including that will make the Thai economy in 2021 expand 3.5-4.5%
For the Thai economy It has passed its lowest point in the second quarter which was negative 12.2% and after this there is a clear sign of recovery. This was reflected in the negative Thai economy in the third quarter, which fell to 6%, as well as in fiscal stability that is four times stronger than short-term debt. While the public debt to GDP is 49.4% within the fiscal discipline of no more than 60% of GDP.
“S&P affirms Thailand’s credit rating at BBB +, reflecting its strong financial position. But what you would like to see more of is investment that Thailand currently has a very low investment rate, although the last 6 years the government has invested a lot in infrastructure. But it is still the first wave of a megaproject. Therefore, public investment is also important to improve infrastructure. Both in Bangkok and in other provinces, ”said Mr. Arkom.
However, the policy of the Ministry of Finance also focus on investing in infrastructure Supports and will drive potential and future growth projects, such as IT and digital related businesses. Green business AND health related businesses
At the same time, you need to borrow money to invest in the next phase. That the government insists on doing it with caution and care Taking into account the impact on the loan and the economy Especially the financial costs of the private sector. So rest assured that the government still has room to nurture and stimulate the economy to gradually expand.
However, taking care of income This is an agenda to which the Ministry of Finance gives priority. Especially tax reform Promote and boost the Thai economy so that it is strengthened with good technology. To be able to collect income Including the expansion of the tax base to cover the entire country
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