The Finance Ministry is issuing measures to stimulate Thailand’s economy, focusing on small and medium-sized enterprises (SMEs), according to the permanent secretary for finance.
Rungson Sriworasat said SMEs, which have been hardest hit by the economic downturn, could be granted debt payment reprieve while the central bank has been asked to seek commercial banks’ cooperation in granting low-interest loans to SME operators.
Rungson Sriworasat, permanent secretary for finance.
He said the Commerce Ministry has already paid Bt10 billion from the Bt20 billion borrowing it sought from the Finance Ministry’s reserves.
The remaining amount should be returned without any trouble, he said.
Parichatara L. Sirivong, SME Bank acting president, said delayed debts with the potential of becoming non-performing loans was about Bt2-3 billion, mostly from customers in the South who were badly hit by floods and the political turmoil.
SME Bank has extended their interest payment period by six months, she said.
The SME Bank’s current non-performing loans are at Bt32 billion while the bank is in the process of selling off Bt2 billion in non-performing loans to the government.
