ID :
12520
Mon, 07/14/2008 - 19:30
Auther :
Shortlink :
http://m.oananews.org//node/12520
The shortlink copeid
Government set to issue comprehensive economic stimulus package
BANGKOK, July 14 (TNA) – The government will announce a comprehensive package of measures to stimulate Thailand's economy amid heavy economic volatility fuelled by rising inflation following Tuesday's Cabinet meeting.
Finance and Deputy Prime Minister Surapong Suebwonglee on Monday said the cabinet will review the comprehensive new economic stimulus package and ways to cope with both inflation and deflation that Thailand may face in the second half of this year when it meets.
The minister conceded global oil prices had risen more than expected, and that inflation having risen to 8.9 per cent in June is worrying and must be contained.
New tax measures -- including reducing the oil excise tax on E85 fuel (the 85 per cent ethanol-blended fuel) to 0.50 baht per litre from the current 2.57 baht -- will be issued to encourage alternative fuel use.
Another issue expected to be discussed by the Cabinet is issuing coupons for low-income families to enable them to buy necessities for daily living under the current more difficult circumstances.
Mr. Surapong said the prime minister and other ministers concerned with the economic stimulus package would together explain the measures at a press conference after the cabinet meeting.
Regarding an imminent Cabinet reshuffle, he said the premier had not yet fully discussed the matter with core members of the ruling People Power Party. He admitted that three ministerial posts -- including the prime minister's office minister, the public health minister's portfolio and the foreign minister's portfolio -- will definitely be filled because they are now vacant.
Regarding other posts, however, further discussion must take place, he said, but the reshuffle would not affect the plan to bail out the country's economy.
Mr. Surapong said that external risk factors including financialdifficulties facing companies in the United States will undermine foreign investor confidence in investment in Asian countries, including Thailand, where the political atmosphere is already unfavourable.
However, he said he is confident the Thai economy will not be adversely affected by the external factors because the government has come up with a set of economic stimulus measures to boost the local economy since early this year.
Finance and Deputy Prime Minister Surapong Suebwonglee on Monday said the cabinet will review the comprehensive new economic stimulus package and ways to cope with both inflation and deflation that Thailand may face in the second half of this year when it meets.
The minister conceded global oil prices had risen more than expected, and that inflation having risen to 8.9 per cent in June is worrying and must be contained.
New tax measures -- including reducing the oil excise tax on E85 fuel (the 85 per cent ethanol-blended fuel) to 0.50 baht per litre from the current 2.57 baht -- will be issued to encourage alternative fuel use.
Another issue expected to be discussed by the Cabinet is issuing coupons for low-income families to enable them to buy necessities for daily living under the current more difficult circumstances.
Mr. Surapong said the prime minister and other ministers concerned with the economic stimulus package would together explain the measures at a press conference after the cabinet meeting.
Regarding an imminent Cabinet reshuffle, he said the premier had not yet fully discussed the matter with core members of the ruling People Power Party. He admitted that three ministerial posts -- including the prime minister's office minister, the public health minister's portfolio and the foreign minister's portfolio -- will definitely be filled because they are now vacant.
Regarding other posts, however, further discussion must take place, he said, but the reshuffle would not affect the plan to bail out the country's economy.
Mr. Surapong said that external risk factors including financialdifficulties facing companies in the United States will undermine foreign investor confidence in investment in Asian countries, including Thailand, where the political atmosphere is already unfavourable.
However, he said he is confident the Thai economy will not be adversely affected by the external factors because the government has come up with a set of economic stimulus measures to boost the local economy since early this year.
