BANGKOK, 26 June 2015 – The Finance Ministry is to issue a series of measures to cope with drought effects in the agricultural sector within a month.
Finance Minister Sommai Phasee said Deputy Prime Minister Pridiyathorn Devakula would soon hold a meeting with relevant authorities to draw up clear-cut measures to relieve impacts of droughts and assist farmers in drought-hit areas.
He confirmed the Finance Ministry has sufficient budget to help farmers. The Bank for Agriculture and Agricultural Cooperatives is now working on soft loans with low-interest rate, and an extension of debt repayment periods for farmers.
Sommai also called for farmers’ understanding in the difficulty encountered by the government in dealing with droughts. Moreover, he said Thailand was facing a contraction in export growth which could derail the country’s economic growth target this year.
The minister added such an economic slowdown also developed in various countries worldwide. European economy, in particular, showed very clear contraction of economic growth as seen in the fall of their exports and imports.
