BANGKOK, 31 March 2015 – The Finance Ministry will propose law amendment and inject more money in to the local system to boost economy.
Finance Minister Sommai Phasee said that the ministry will propose to the Prime Minister’s Office a plan to amend the law governing the administration of the national village and urban community fund.
Mr. Sommai said that the PM’s Office will be asked to add another 40 billion baht to the village fund after 200 billion baht has already been poured into it, with an aim to help boost the economy and consumption of the grassroots.
He stated that both proposals are considered a kind of government investments when the economic condition remains sluggish.
However, the Finance Minister insisted that the government will not be introducing any direct stimulus measures as the country’s household debt level is very high .
While assuring that the government will speed up the budget disbursement to help the economy grow, Mr. Sommai said that a growth rate of 2%-3% will be acceptable for Thailand when the global economic slowdown still continues.
