ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Economy

Thai government approves new economic stimulus measures

BANGKOK (Reuters) -- The Thai government on Tuesday introduced new stimulus measures intended to boost the lagging economy, amid sluggish exports and a slowdown in private consumption.

The government cut its forecast for 2019 growth last week to 2.6% from the 2.7% to 3.2% projected three months ago. Exports have declined amid global trade tensions and a strong baht, which makes Thai products more expensive abroad. The baht is Asia's fastest-rising currency this year.

"The new measures are estimated to inject more than 100 billion baht into the economy and enable 2019 gross domestic product to expand by 2.6%, on target," Finance Minister Uttama Savanayana told reporters.

The new measures allocate 200,000 baht ($6,624.71) to support local businesses in more than 70,000 communities around the country. They also provide low-interest loans valued at 50 billion baht for agricultural cooperatives and farmers from the government's Bank for Agriculture and Agricultural Cooperatives.

The government will also provide handouts of up to 10,000 baht to small rice farmers and a debt moratorium. A cash-back scheme for real estate purchases will also be introduced for 100,000 people who earn less than 1.2 million baht annually.

In August, the government also introduced a $10 billion stimulus programme that included support for farmers and the country's tourism businesses.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media