According to the Thai cabinet meeting of the injection fund for the Corona virus victims for the third phase of 2020. The injection is amounted 1.9 billion THB and is aimed to the first few priority of those who face with the impact first.
PM Prayut Chan-o-cha revealed that the third phase of economic stimulus measures consists of three emergency decrees…
- The first decree will transfer 80 billion baht to 100 billion baht to the central budget to use as stimulus funds.
- The second will permit the Bank of Thailand to use up 900 billion baht for moves to boost the economy.
- The third decree allows the Finance Ministry to borrow up to 1 trillion baht, of which 600 billion baht will be used for cash handouts and public health and 400 billion baht will be spent on economic recovery measures (in addition, there will be another 80 billion baht to 100 billion baht available after rearranging the budgets of government authorities).
Meanwhile, the Bank of Thailand will allocate 500 billion baht in soft loans at 2% interest rates to aid the economy, especially to small and medium enterprises, with credit lines of up to 500 million baht. In addition, the BOT will instruct commercial banks and government financial institutions to allow SMEs with loans not exceeding 100 million baht to postpone principal debt and interest payment for 6 months.