CHATRUDEE THEPARAT
PATSARA JIKKHAM
MANOP THIPO-SOD
Somkid readies B50bn stimulus package
Prime Minister Prayut Chan-o-chan wants the new economic team headed by Deputy Prime Minister Somkid Jatusripitak to show substantial results within three months, a government spokesman says.
Meanwhile, the team is expected to propose a new stimulus package worth more than 50 billion baht next week.
The prime minister is aware of public expectations of the new economic ministers and has instructed them to get him prompt results, spokesman Maj Gen Sansern Kaewkamnerd said.
Gen Prayut has stressed the need for the economic team to come up with measures to boost public spending across society as a whole and not just concentrate on the macro-economy.
"The prime minister told [the cabinet] that time is running out," Maj Gen Sansern said. "And three months from now people must start to see positive changes. He also hopes the economy will pick up. We need to adjust and find ways to cope."
Maj Gen Sansern said Mr Somkid has been instructed to figure out how to attract foreign investors with fresh investment privileges during 2015-2016 as some investors feel present ones are not attractive enough.
Mr Somkid is expected to propose stimulus packages to the cabinet for consideration next week, Budget Bureau director Somsak Chotrattanasiri said.
He said the deputy prime minister has discussed the measures with Finance Minister Apisak Tantivorawong.
The stimulus packages are brand new, not reincarnations of old measures and there is more than 50 billion baht in the central budget for spending to help get the economy going again, Mr Somsak said.
Speaking after yesterday's cabinet meeting, the first after the swearing-in ceremony, Gen Prayut said the assignment of duties among his deputies as part of his reshuffle announced recently is complete