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Thailand to roll out more economic measures for New Year

Thai economy next year is expected to grow by 3.5-4.5 percent, while the Ministry of Finance has prepared more measured to be rolled out

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BANGKOK (NNT) – The Ministry of Finance’s permanent secretary says that the Thai economy next year is expected to grow by 3.5-4.5 percent, while the Ministry of Finance has prepared more measured to be rolled out for the general public as New Year gifts.

The Ministry of Finance’s Permanent Secretary Krisada Chinavicharana gave the opening speech at the Wealth Forum seminar, where he has pointed out that the Thai economy has already passed the lowest point, and has started to recover.

He said the economic output in Q3 this year was at a negative 6.4 percent, however the Q4 performance is expected to swing back to negative 3.5-4.5 percent, 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.

In addition, the Ministry of Finance is planning to roll out additional measures for the general public in the final weeks of this year.

The Finance Ministry’s permanent secretary said the Ministry of Finance will continue to promote economic growth, maintain the employment rate and expedite government spending. The ministry is sure its measures will help rebuild confidence among international companies to enable them to invest in Thailand once again.

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

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

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World Bank lowers Thai GDP growth outlook to 2.2%

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