Thailand’s economic ministers on Mar. 17 agreed to launch the second round of economic stimulus measures which they hope can jump-start the domestic economy, local media reported.
The new measures will be in effect for two to three years, funded by loans sought from overseas, while investment in basic infrastructure will be studied at the same time, Prime Minister Abhisit Vejjajiva was quoted by the Thai news agency (TNA) as saying.
Initial investment on small infrastructure projects including transportation, public health, school and hospital projects is estimated to cost 1.4 trillion Baht (about 39 billion USD), said the PM, who reasoned that more investment is needed because of declines in foreign investment and exports.
According to TNA, the Thai government revenue for the current fiscal year is expected to fall further by 150 billion Baht, a deeper loss than the 100 billion-Baht earlier projected.