The Finance Ministry will accelerate budget disbursement and approval of tax deduction for travel expenses to quickly stimulate domestic tourism and spending in the hope of achieving economic growth this year of no less than 2%.
The Finance Ministry will promptly push forward the recent tax deduction for travel expenses of 15,000 baht a year to the new cabinet for approval. Corporations will also be able to claim up to twice the cost of seminars and training sessions.
Risks that GDP will come in below 2% are increasing as exports remain sluggish and domestic consumption has slightly improved.
The Fiscal Policy Office is targeting tourism growth at 1.5% this year and achieving monthly exports of US$20 billion, on average.
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