Thailand needs 100 billion THB to support rural economy
The Finance Ministry of Thailand will need more than 100 billion THB (3.28 billion USD) to sponsor the sustainable development strategy for the rural economic area with around 30 million low-income households nationwide.
Farmers harvest rice in Thailand's southern Narathiwat province (Photo: AFP/VNA)Bangkok (VNA) – The Finance Ministry of Thailand will need more
than 100 billion THB (3.28 billion USD) to sponsor the sustainable development
strategy for the rural economic area with around 30 million low-income
households nationwide.
Permanent secretary of the Finance Ministry Prasong Poontaneat said the ministry will have a meeting with relevant agencies such as the Bank for Agriculture and Agricultural Cooperatives and Government Saving Bank to implement the stimulus package.
According to Prasong, immediate measures include special loans from community-level financial institutions at an interest of less than 1.25 percent per month in order to solve the loan-shark problem.
Thai Deputy Prime Minister Somkid Jatusripitak recently said the government will carry out new stimulus packages for local people in an effort to improve the rural economy.
Earlier, the government approved stimulus measures worth 21.83 billion THB to shore up a slowing economy, and boost consumption to offset weaker exports. The measures cover spending of 13.2 billion THB in public welfare benefits for low-income earners, plus tax measures worth 8.62 billion THB.
Besides, it is aiming to raise the quality of living of some 14 million low-income people by using state-owned banks to provide loans to them to create community business.
At a recent conference on sustainable economic development, Finance Minister Uttama Savanayana said the ministry would announce measures to encourage private sector’s participation in community development./.
Permanent secretary of the Finance Ministry Prasong Poontaneat said the ministry will have a meeting with relevant agencies such as the Bank for Agriculture and Agricultural Cooperatives and Government Saving Bank to implement the stimulus package.
According to Prasong, immediate measures include special loans from community-level financial institutions at an interest of less than 1.25 percent per month in order to solve the loan-shark problem.
Thai Deputy Prime Minister Somkid Jatusripitak recently said the government will carry out new stimulus packages for local people in an effort to improve the rural economy.
Earlier, the government approved stimulus measures worth 21.83 billion THB to shore up a slowing economy, and boost consumption to offset weaker exports. The measures cover spending of 13.2 billion THB in public welfare benefits for low-income earners, plus tax measures worth 8.62 billion THB.
Besides, it is aiming to raise the quality of living of some 14 million low-income people by using state-owned banks to provide loans to them to create community business.
At a recent conference on sustainable economic development, Finance Minister Uttama Savanayana said the ministry would announce measures to encourage private sector’s participation in community development./.
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