Thai Cabinet nods for new economic stimulus measures

BANGKOK, October 1 (TNA)- The Thai Cabinet has approved new economic stimulus measures, worth 200 billion baht, believed to help boost the national economic growth by 4-5 per cent next year. The Thai Cabinet gave the green light of the new economic stimulus package, proposed by Deputy Prime Minister MR Pridiyathorn Devakula, who oversees economic affairs, at its weekly meeting on Wednesday, chaired by Prime Minister Prayuth Chan-o-cha. MR Pridiyathorn said that the new economic stimulus measures are aimed at creating new jobs and increasing people's purchasing power, while also boosting domestic investment in public utilities, hospitals, schools and transport systems, funded by about 149 billion baht state budget earliler unspent. According to the deputy prime minister, the economic stimulus measures also include a fast approval of new investment projects, worth over 400 billion baht, now seeking promotional privileges from the Board of Investment of Thailand (BOI). Besides, new mega-investment in eight electric rail projects, to be opened for bidding contests by private firms next year, is also part of the Thai government's new stimulus measures, so is a 2-billion-baht project of the Ministry of Agriculture and Agricultural Cooperatives, under which the ministry will create jobs in non-irrigated rural areas and implement agricultural zoning plans. Meanwhile, the Cabinet also approved the appointment of Anusit Khunakorn, Deputy Secretary-General of the National Security Council (NSC), as the new NSC Secretary-General, replacing Thawil Pliensri, who retired on September 30. (TNA)