Uttama: More economic stimulus if needed

Uttama: More economic stimulus if needed

(Bangkok Post file photo)
(Bangkok Post file photo)

The government is ready to add further fiscal support if a recently introduced stimulus package is insufficient, the finance minister said on Thursday, as the government tries to revive flagging domestic activity.

The government will take a few months to review the effect of the 300-billion-baht package announced this month, as Thailand registered its weakest growth in nearly five years in the second quarter.

"We will wait for three to four months to see whether the measures are enough, as they are temporary," Uttama Savanayana told reporters.

"If needed, we can introduce more, because our fiscal position is still strong."

Mr Uttama has said the stimulus package is expected to help lift growth to 3% this year. Last year's expansion was 4.1%.

He said a "relocation package" to attract foreign companies would not be discussed by economic ministers on Friday, as previously announced. "It may be discussed at the next meeting," he said.


Do you like the content of this article?
COMMENT (5)

Philippines unlikely to keep lockdown despite surging infections

The Philippines is unlikely to keep its capital and nearby areas under strict lockdown despite coronavirus infections rising by another daily record to over 136,000.

13:54

Maserati extends Trofeo spice to 2020 Ghibli and Quattroporte

High-performance sedans get 590hp of Ferrari-tweaked power and shiny all-black interior.

13:06

'Serious offence'

The Appeal Court upholds a six-month prison sentence, without suspension, given to construction magnate Premchai Karnasuta for illegal possession of firearms - but he'll take it to the Supreme Court.

13:04