‘ New Year’s product’ aims for development
PUBLISHED: 19 Nov 2024 at 05: 52
According to Deputy Finance Minister Julapun Amornvivat, the Finance Ministry will discuss the complete economic stimulus package with a relevant committee chaired by Prime Minister Paetongtarn Shinawatra on Tuesday.
Mr Julapun said the agency’s package, which is expected to include the 10, 000-baht money flyer via the digital budget, aims to generate action to help a full-year of economic growth next year.
He described it as a New Year’s product for the Thai people.
He added that the agency’s plan includes tax relief and debt-relief programs, adding that the government wants to promote women’s access to financial aid through low-interest rates and gentle money.
However, because some measures were not yet finalized and needed more debate, Mr. Julapun declined to provide more information about these stimulus initiatives.
The economic trigger plan committee, which will set out a clear path for economic growth and establish each proposal’s best timing and implementation strategy, will also be given the opportunity to provide stimulus packages to another ministries.
The deputy finance minister noted that it is also very possible that the industry-targeted stimulus measures will be implemented.
Mr. Julapun claimed that while the government anticipates strong economic growth in the upcoming third, certain fields also require assistance, such as loans for home and pickup trucks.
The government just approved a payment program for 55 billion ringgit for buying, building or repairing/decorating homes with low interest rates, he said.
He noted, however, that the government is yet to make a decision regarding the transfer price reduction, which is scheduled to expire at the end of the year.
The Happy Home Housing Loan Project and Happy Life Loan Project, which received positive consumer feedback, may be replaced, he said.
Mr. Julapun claims that the 180 billion ringgit has been allocated for the digital budget scheme in addition to the monthly budget to finance the economic stimulus initiatives.
In the second phase of the digital wallet program, the government is also focusing on the old.
The older are a susceptible population with limited work opportunities, according to Finance Minister Pichai Chunhavajira, but they may also be a target group for those over 50.
He claimed that because the older population is somewhat smaller, management and budget planning are required.
The time collection is being used as the starting point for the upcoming phase of the 10,000 bass digital wallet program, according to Deputy Finance Minister Paopoom Rojanasakul last year.
Less people than those who received the first step of the money handout, according to Mr. Paopoom, and the transaction may be made both at the end of this year or early in the following year.
It is reported that the Finance Ministry’s deal is expected to be a complete program covering short-term, medium-term and long-term actions and New Year’s gifts.
The government assessed the money handout’s first step to vulnerable parties, which stimulated the business, especially during the third quarter, when GDP is expected to grow by 4.3-4.4 %.