400 Billion Baht Stimulus Plan Hopes to Boost Thai Economy
Today’s parliamentary session is expected to work toward approval of a 400 billion baht loan package designed to improve the state of the Thai economy. The debate in parliament will last through Tuesday and be carried live on Thai television. Finance Minister Korn Chatikavanij hopes the unusual parliamentary session beginning on Monday will vote to approve the special executive decree giving authority to the current government to issue 400 billion baht in domestic loans in an attempt to stimulate the economy.
According to a statement issued by The Finance Ministry, it will make a public offering of bonds within a few days of the passage of the decree.
Pongpanu Svetraundra, Public Debt Management Office director-general said Finance Minister Korn must first authorize his agency to raise the public debt limit to make room for the executive decree.
The ministry announced that the first 30 billion baht would be offered as bonds available to be purchased by the public.
The opposition party blames the current government for the economic troubles and plans to vote against the decree.
400 Billion Baht Stimulus Plan Hopes to Boost Thai Economy
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