Jump to content
BANGKOK
snoop1130

Thailand earmarks further $15 billion for coronavirus crisis

Recommended Posts

Thailand earmarks further $15 billion for coronavirus crisis

 

defge.PNG

FILE PHOTO: A man wearing a protective face mask walks, during the spread of coronavirus disease (COVID-19), in Bangkok, Thailand March 29, 2020. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand’s new stimulus package to alleviate the impact of the coronavirus crisis will be worth more than 500 billion baht ($15.3 billion), its finance minister said on Monday.

 

It has already introduced two packages, the first to inject 400 billion baht into the economy and the second, worth 117 billion baht, to include cash handouts.

 

The latest is being worked on by the finance ministry, the central bank and relevant agencies, Uttama Savanayana said.

 

“We can’t tell the size yet as we are working on it. But it should be bigger than earlier two packages combined,” he told a news conference, adding: “We will try to do it quickly.”

 

Southeast Asia’s second-largest economy has been hit hard by the coronavirus pandemic as it is heavily reliant on exports and tourism. It has reported 1,524 cases of coronavirus and nine deaths as a result of the outbreak.

 

Thailand’s central bank expects the economy to contract 5.3% this year, which will mark the first shrinkage since the global financial crisis in 2009.

 

Uttama said Thailand has no plans to borrow from the International Monetary Fund (IMF) as its fiscal position is strong and it is able to tap other funding sources, including the fiscal budget.

 

Thailand’s Deputy Prime Minister Somkid Jatusripitak said last week that the government was ready to issue a decree to borrow if necessary.

 

reuters_logo.jpg

-- © Copyright Reuters 2020-03-30

Share this post


Link to post
Share on other sites

That money tree must be getting pretty thin giving away all this money

  • Haha 2

Share this post


Link to post
Share on other sites

and i bet you will not see a single mask anywhere being given out for free.

  • Like 2

Share this post


Link to post
Share on other sites

I hope the government gives out the money to individuals over age 18 without any requirements. Thai people are poor, just help your people.

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites

able to tap other funding sources...like Visa Extension?

  • Haha 1

Share this post


Link to post
Share on other sites
2 hours ago, ozz1 said:

That money tree must be getting pretty thin giving away all this money

Amazing how many "magical money trees" can be found in the woods, when push comes to a shove. And I always believed nice Mrs May's words that austerity was necessary and not an option, as "There is no Magical Money Tree!". Perhaps someone has learned how to clone them? No talk, of course, about who eventually pays for said proliferation of MMT's and when the bill will be due....🙄

  • Like 2

Share this post


Link to post
Share on other sites

"to inject 400 billion baht into the economy"

 

Wonder who's economy?

  • Haha 2

Share this post


Link to post
Share on other sites

More money for the depleted trough.

  • Thanks 1

Share this post


Link to post
Share on other sites

Why not draw down your world-beating USD reserves?  We know who gave it to you, and they won’t mind.

  • Like 1

Share this post


Link to post
Share on other sites
15 hours ago, snoop1130 said:

Thailand’s Deputy Prime Minister Somkid Jatusripitak said last week that the government was ready to issue a decree to borrow if necessary.

Of course you are. 🤑🤑🤑 

Share this post


Link to post
Share on other sites
22 minutes ago, Isaan sailor said:

Why not draw down your world-beating USD reserves?  We know who gave it to you, and they won’t mind.

Yes, there is going on with these gangsters and the twisted communist party of China, and these US Dollar reserves

  • Like 1

Share this post


Link to post
Share on other sites
Just now, humbug said:

Yes, there is going on with these gangsters and the twisted communist party of China, and these US Dollar reserves

All part of the plan.

  • Like 1

Share this post


Link to post
Share on other sites
14 hours ago, plachon said:

Amazing how many "magical money trees" can be found in the woods, when push comes to a shove. And I always believed nice Mrs May's words that austerity was necessary and not an option, as "There is no Magical Money Tree!". Perhaps someone has learned how to clone them? No talk, of course, about who eventually pays for said proliferation of MMT's and when the bill will be due....🙄

Money grows on trees but only certain people can seem to harvest it

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...