Economic ministers approve B1.57 tln second round of stimulus plan
Deputy premier Korbsak
Thailand’s economic ministers yesterday gave green light to the second round of economic stimulus package worth about 1.57 trillion baht in a bid to jumpstart the country’s economy during 2010-2012.
According to Deputy Prime Minister Korbsak Sabhavasu, a total of 486.14 billion baht in government investment will be spent during fiscal year 2010, which will begin from October 1 this year to the end of September next year, while 510.56 billion baht will be in fiscal year 2011 and 570.16 billion in fiscal year 2012. The investment will be made on seven important programmes.
The deputy prime minister said the approved amount of investment does not include the planned investment worth 200 billion baht by the country’s oil and gas conglomerate PTT Plc.
The three-year investment is expected to boost gross domestic product (GDP) by about five percent a year, create 1.6 million new jobs in three years and help spread investment on public services to rural areas nationwide, Korbsak said.
Meanwhile, Secretary-General Ampon Kittiampon of the National Economic and Social Development Board (NESDB) disclosed that the seven important programmes will be to improve water distribution systems for small-scale farming, to upgrade public services, to map out plans to boost tourism revenue, to improve education and rural people’s life and the developments in southern border provinces.
To speed up the second round of the economic stimulus programmes, Ampon said, the economic ministers would set up an ad hoc committee, chaired by the permanent secretary for finance, to consider all projects, prioritise them, finding funding sources and allowing the private sector to jointly invest in the projects.
The committee must complete its study within 30 days and forward it to economic ministers for their consideration, he added.
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