Finance Ministry to roll out supporting measures after factory closedowns

14 Nov 2019 | View : 238

BANGKOK (NNT) - The Minister of Finance has revealed the ministry is ready to introduce measures to support the economy after many factories shut down because of the global economic situation.

The Minister of Finance Uttama Saowanayon, spoke today about the closing down of a number of industrial factories, saying that the global economic slowdown has caused a chain reaction affecting the Thai economy, especially small export manufacturers who are severely affected.

He said the Ministry of Finance has been devising supporting measures to alleviate the effects, adding that it is still necessary for the government to continue issuing economic stimulation measures as the global economic slowdown will continue.

The Bank of Thailand has recently introduced measures to facilitate the outbound cash flow as another way to control the economic situation, which is a mutual effort to help maintain economic performance and minimize negative effects.

The Finance Minister said it is still diffficult to forecast economic growth next year, and the Ministry of Finance is closely monitoring the situation and preparing for potential effects.

On suggestions from academics seeking tax measures to act as an economic stimulus as in in the United States, he said the Ministry of Finance will have to consider the suitability and compatibility of such measures with the Thai economy and current situation, adding that the Ministry of Finance is open to future consideration as appropriate.

Information and Source

Reporter : Tanakorn Sangiam

Rewriter : Tarin Angskul

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