Thailand’s Finance Ministry to issue stimulus measures to mitigate COVID-19 impacts
The Thai Ministry of Finance is working with the private sector to develop some 100 billion-THB worth support measures for affected persons and business operators, in the context of the global COVID-19 epidemic bringing significant disruption to both the Thai and global economies.
(Photo: thainews.prd.go.th)Bangkok (NNT/VNA) - The Thai Ministry of Finance is working with the private sector to develop some 100 billion-THB worth support measures for affected persons and business operators, in the context of the global COVID-19 epidemic bringing significant disruption to both the Thai and global economies.
These measures will include a liquidity enhancement campaign for low-income earners, freelance workers and farmers. With this campaign, the government will transfer support benefits, via the country’s PromptPay platform, to some 14 million beneficiaries, who will be able to use the money for spending on necessities.
Soft loans will be offered to SMEs and tourism businesses to help secure sufficient funding for their business operations, as well as special tax measures to encourage companies to retain their employees. The Revenue Department will issue a special guideline on reducing withholding tax payments to increase liquidity.
A fund will be set up to support employers who continue to pay their employees during temporary work stoppages.
These, plus aid measures for the stock market, will be proposed in the economic ministers’ meeting on March 6./.
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