Thailand: Finance Ministry gauging need for further stimulus

  • The Finance Ministry plans on assessing economic conditions over the next two months before deciding whether to roll out further stimulus measures.
  • If existing measures are inadequate, the government stands ready to implement additional measures and there is sufficient room for the disbursement of a fiscal stimulus budget, said Arkhom Termpittayapaisith, the finance minister, at a virtual seminar titled “The Year Ahead 2021: Navigating the Path to Recovery” held on 20 Jan 21 by Kiatnakin Phatra (KKP) Financial Group.
  • The government could also issue a second emergency loan decree if necessary, said Mr Arkhom.
  • “The public debt-to-GDP ratio is at 50%, compared with the 60% ceiling rate of fiscal responsibility. We could increase the ceiling rate if necessary,” he said.
  • Mr Arkhom said the government still has to emphasise measures to stimulate domestic demand as the country is limiting foreign tourist entry, with stringent requirements in place to curb the outbreak.

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