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Thai Government is advised to create welfare economy

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The government’s major task is to increase the number of people in the middle class as it is the path to the welfare economy, according to Chairman of the Board of the Bangkok Bank Kosit Panpiemrat.

The Bangkok Bank Chairman said at a seminar on the directions for the Thai economy, organized by the Economic Reporters Association on 4 April that the major task for the government was to build up the number of middle class people in the society. He said middle class people was an important unit leading to the welfare economy, since the higher numbers of them meant higher tax collection and that revenue could bring about other welfares.

via The Government is advised to create welfare economy : National News Bureau of Thailand.

Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

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BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

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Economics

Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)

According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of GDP, the government would need to borrow 700 billion baht to offset the deficit.

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BANGKOK (NNT) – The Budget Bureau notes that the Thai government plans to increase its investment budget by 90 billion baht in the fiscal year 2022, in compliance with a law related to state financial and fiscal discipline.

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