15:10 | 22/09/2015 Global Economy
The Thai government has launched urgent measures to stimulate the country’s economy, Prime Minister Gen Prayut Chan-o-cha said in a televised programme “Returning Happiness to the People” broadcast last week.
Workers at Toyota factory in Thailand (Source: AFP)
He said that the measures are expected to create more job opportunities, bringing more income to the people. They include useful projects which truly respond to the public demand. The stimulus fund will be distributed in the form loans to Village Fund in order to ensure that it reaches all areas of the country.
According to the loan criteria, each village will receive one million baht in loan with free interest for the first two years. Village committees will take responsibility to oversee the loan management and encourage public participation in their project under a mutual monitoring basis.
As for villages which have been provided with loans by the previous government, Gen Prayut said he had assigned the Ministry of Interior to oversee the loan management to ensure budget spending was systematic and transparent. Moreover, every Tambon (or sub-district) in Thailand will get a five million baht budget as a rotating fund in the community.
Gen Prayut has assigned the National Council for Peace and Order (NCPO), the Interior Ministry and the Ministry of Agriculture and Cooperatives to supervise the project. The Prime Minister reiterated that the Committee to Monitor and Inspect the Government Expenditure Budget must see to it that all project requests submitted for the stimulus fund be drafted with transparency and accountability./.