Thai Ministry of Finance rolling out more measures to help boost economy

The Ministry of Finance (MOF), Thailand is preparing to roll out measure for the general public as New Year gifts. Mr Krisada Chinavicharana, the Permanent Secretary of MOF, Thailand, announced during a speech the opening speech at the Wealth Forum Seminar.

During the seminar, he pointed out that the Thai economy has already passed the lowest point. He added that it was starting to recover. “The Ministry of Finance expects the Thai economy to grow by 3.5-4.5 percent next year,” he stated.

He said the economic output in Q3 this year was at a negative 6.4 percent. However, the Q4 performance is showing signs to swing back to negative 3.5-4.5 percent. This recovery thanks to successful COVID-19 measures, positive progress in COVID-19 vaccine development and the global economic recovery.

At the same time, the government has been pursuing financial and monetary measures, using the 1 trillion baht emergency loan for economic recovery from COVID-19, with funding now being disbursed for related projects.

The MOF also plans to roll out additional measures for the general public in the final weeks of this year.

MOF focused on measures to boost the economy

The permanent secretary said the Ministry of Finance would continue to firstly, promote economic growth. Secondly, maintain the employment rate. Finally, it will expedite government spending. The ministry is sure its measures will help rebuild confidence among international companies to attract them to invest in Thailand once again.

Mr Krisada said, during his speech, that this Wealth Forum helps to convey to audiences correct understanding about the Thai economy, the world economy and market fluctuations. These eventually help investors make informed decisions.

He responded to a question, on the government’s 50:50 co-pay campaign. He mentioned that the MOF would likely increase the number of eligible persons in the next round of registration. This action is pending a report on expected applicants, from Krungthai Bank, and further evaluations.

A video of his speech is available at this link.

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