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BANGKOK 19 May 2019 21:36
snoop1130

Outgoing govt plans Bt20 bn stimulus amid slowdown signs

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Outgoing govt plans Bt20 bn stimulus amid slowdown signs

By Wichit Chaitrong 
The Nation

 

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The government is planning to inject Bt20 billion into the economy amid signs of economic slowdown and political uncertainty after last month’s election.

 

The government needs to shore up the economy over the next few months as economic indicators suggested an economic slowdown, Deputy Prime Minister Somkid Jatusripitak said on Friday, after meeting with senior officials at the Finance Ministry.

 

He defended the outgoing government taking the action after the recent election, arguing that the money is not going to a large project and that it was necessary to shore up the economy before the next government takes office.

 

The stimulus package will be designed to boost consumption and tourism, while creating incentives for residential loans and supporting lower income people who hold state welfare cards, Somkid said. The package is expected to be sent for the Cabinet approval within two weeks, he added.

 

Meanwhile, Finance Minister Apisak Tantivorawong affirmed the Bt20 billion package. To boost consumption, consumers would get a tax reduction for spending on educational materials, domestic travel and for low-income people to purchase homes, he said. The tax reduction would be about 1.5 to two times the actual spending, he added.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30367973

 

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-- © Copyright The Nation 2019-04-19

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Posted (edited)
11 minutes ago, shady86 said:


The self elected government is still around. Democracy is dead. Just accept it.

'Democracy is dead. Just accept it'.

That is precisely what the Thais en masse ARE doing - and have done for the past five years!

(And please don't say that they have just participated in an election: every person with more than two brain cells to rub together urged a boycott of THIS faux-election months ago - and now surely everyone can see why!).

 

Edited by Eligius
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An interesting turn of phrase 'outgoing government' have they admitted defeat at last ?? I sincerely hope so and wish that they would give up with the pathetic witch hunts of all their opponents.

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12 hours ago, snoop1130 said:

 

The government is planning to inject Bt20 billion into the economy amid signs of economic slowdown and political uncertainty after last month’s election.

 

The government needs to shore up the economy over the next few months as economic indicators suggested an economic slowdown, Deputy Prime Minister Somkid Jatusripitak said on Friday, after meeting with senior officials at the Finance Ministry.

 

Oh oh, there must be a rerun of the election coming.

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8 hours ago, Golden Triangle said:

An interesting turn of phrase 'outgoing government' have they admitted defeat at last ?? I sincerely hope so and wish that they would give up with the pathetic witch hunts of all their opponents.

No, I think it is proof (were it needed!) that the outgoing government will be the incoming government. The appointed senate will ensure that...

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Basically locking up all the money so it can't be used for whatever happens if the change of leadership happens. But it won't! Old political trick.

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In other countries this is called a severance package: you serve/milk your country for five years and on the way out you skim the stimulus money to ensure a comfortable retirement.

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1 hour ago, JAG said:

No, I think it is proof (were it needed!) that the outgoing government will be the incoming government. The appointed senate will ensure that...

Hence, a need to top up the trough!

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2 hours ago, JAG said:

No, I think it is proof (were it needed!) that the outgoing government will be the incoming government. The appointed senate will ensure that...

Say hello to the new boss ,same as the old boss.

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