Thai Cabinet Approves $1.45 Billion of Projects To Help Economy

Thai
FILE PHOTO: Construction workers are seen in a building in Bangkok, Thailand March 8, 2017. REUTERS/Jorge Silva

BANGKOK ⸺ Thailand’s cabinet on Tuesday approved 45 billion baht ($1.45 billion) of projects aimed at reviving the economy, the prime minister said, as the tourism-reliant country struggles with a third wave of coronavirus infections.

The projects would improve the local economy and community, Prayuth Chan-ocha told reporters, without giving further details. It follows an economic relief package worth 255 billion baht approved last week.

The cabinet also approved a draft budget bill for the 2022 fiscal year starting in October, which forecasts spending of 3.1 trillion baht ($99.71 billion) and a deficit of 700 billion baht, government spokesman Anucha Burapachaisri said in a statement.

Parliamentarians are expected to debate the first reading of the bill between May 31 and June 2, he said.

Thailand on Tuesday reported 1,919 new COVID-19 infections and 31 deaths. 

The latest outbreak, which began in April, has accounted for two thirds of Thailand’s total cases and about 80% of fatalities.

Restrictions to curb the spread has slowed economic activity, dragging the Thai Chamber of Commerce’s confidence index to a record low of 27.6 in April from 30.7 in March.

($1 = 31.10 baht)

Reporting by Satawasin Staporncharnchai and Panarat Thepgumpanat; Writing by Orathai Sriring; Editing by Martin Petty; Reuters

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