Bangkok: The Prime Minister is prepared to adopt the National Economic and Social Development Board’s (NESDB) recommendations to address four urgent issues aimed at stimulating the economy. This initiative is set to include measures designed to boost spending at the start of the coming year.

According to Thai News Agency, Mr. Jirayu Huangsap, spokesman for the Prime Minister’s Office, revealed on the “Sai Jang Jai Thai Khu Fa” program that the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) recently convened with the Prime Minister. This committee includes representatives from the Thai Chamber of Commerce, the Federation of Thai Industries, and the Thai Bankers’ Association. Led by Mr. Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, the meeting focused on four primary issues: resolving economic challenges, supporting small and medium-sized enterprises (SMEs), managing water resources, and enhancing the nation’s competitiveness.

The private sector has also proposed additional
economic stimulus measures, notably a double-project initiative where the government would finance half of the budget to boost purchasing power. These measures aim to stimulate spending particularly during the New Year and Songkran festivals in early 2025. Suggestions include the implementation of Easy e-Receipt and other tax measures. The Prime Minister is considering these proposals, with potential implementation either by the end of this year or in early 2024.

Furthermore, Mr. Sanan proposed that the government address the debt issue by assisting households, specifically by extending repayment periods for problematic debts such as car loans, particularly for pickup trucks. He also recommended relaxing vehicle seizure policies and extending repayment terms by three to six months.