Thailand: PM accelerates ‘New Normal’

  • Prime Minister Prayut Chan-o-cha is keeping faith with his “New Normal” to steer Thailand forward, prioritising public health safety and tackling the economic problems of the poor.
  • The prime minister said his government was moving ahead with a package to employ 400,000 people.
  • He also vowed to expedite efforts to address the economic woes caused by the pandemic by picking the most skilled people should he decide a cabinet reshuffle was the best way to proceed.
  • He said that while THB500bn had been spent to relieve the immediate impact of Covid-19 for the people over 2Q20, another THB550bn had been earmarked to combat ongoing problems. A large slice of that –THB200bn – will be reserved in case of a second wave of infections.
  • Speaking at Government House on 9 Jul 20, Gen Prayut said that a THB400bn spending plan for economic rehabilitation would be undertaken in two phases.
  • He said the cabinet had on 8 Jul 20 approved a budget allocation of THB100bn for the first phase, aimed at strengthening the farming sector and creating more jobs.
  • The second phase is worth THB300bn and details will be made available later, he said.
  • The government will also roll out measures to help small and medium-sized entrepreneurs (SMEs) access funding, with the collaboration of the Bank of Thailand and the Thai Bankers Association.
  • The cabinet on 8 Jul 20 also approved five projects worth THB15.5bn proposed under the government’s economic stimulus packages altogether worth THB400bn.

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