Thai cabinet approves US$1.45 billion of projects to help economy

Thai cabinet approves US$1.45 billion of projects to help economy

Thailand's cabinet on Tuesday approved 45 billion baht (US$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.

FILE PHOTO: Construction workers are seen in a building in Bangkok
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 (US$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 (US$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 80per cent 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.

(US$1 = 31.10 baht)

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

Source: Reuters

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