BANGKOK, 9 September 2015 – The government’s recently-declared measures to stimulate the economy and assist small and medium enterprises, are intended to spur spending and allow businesses to make the adjustments needed in order for them to remain in operation, according to Bangkok Bank’s Senior Executive Vice President Charnsak Fuangfu.
Mr. Charnsak on Tuesday expressed the belief that the economic stimulus measures announced by the government were appropriate in the current circumstances. He claimed that the assistance being offered to low-income earners and SMEs will result in greater spending.
Commenting on private sector investment, Mr. Charnsak disclosed that loans issued by Bangkok Bank to large businesses over the past 6 months were being used primarily as working capital, not for investment. This was because the private sector was still awaiting clarity on large-scale public investment projects, 17 of which are expected to reach the bidding phase at the end of the year. Mr. Charnsak said concrete progress made in these projects would spur an increase in investment.
