The Prime Minister discusses with the Economic Cabinet to accelerate measures to stimulate the economy.

House of Representatives, The Prime Minister chaired the Economic Cabinet meeting No. 2/2024 to discuss measures to stimulate economic growth. to grow beyond the NESDB's estimate of 2.5%, hoping for growth of approximately 3%; emphasizing the acceleration of budget disbursement to stimulate economic growth according to NESDB's goals Mr. Settha Thavisin, Prime Minister, chaired the 2nd Economic Cabinet meeting. Ministers attending the meeting included Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce, Mr. Suriya Juangroongruangkit. Deputy Prime Minister and Minister of Transport, Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, Capt. Thammanat Phromphao, Minister of Agriculture and Cooperatives. Mr. Sermsak Phongpanich, Minister of Tourism and Sports, Mr. Pipat Ratchakitprakarn, Minister of Labor, Mr. Chulphan Amornvivat, Deputy Minister of Finance. and Mr. Paophum Rojanasakul, Deputy Minister of Finance In addition, Mr. Setthaput Suthiwat Narueput The Governor o f the Bank of Thailand, Mr. Danucha Pitchayanan, Secretary-General of the National Economic and Social Development Council (NESDB), and Mr. Chalermphon Pensutta, Director of the Budget Bureau, also attended the meeting. The Prime Minister said at the beginning of the meeting that It is a meeting to follow up on measures to stimulate economic growth. After the meeting, Mr. Pichai announced that the meeting discussed three important measures to stimulate the economy in order to make the economic growth rate (GDP) higher than the NESDB estimates. From the NESDB estimates that the average is 2.5%, GDP in the 1st quarter of 2024 expanded only 1.5%, which is lower than neighboring countries and trading partners. The Thai economy is therefore in a state of trouble. Therefore, for long-term survival, GDP must expand by 5%, but for 2024, it is hoped that it will grow by 3%. The first measure is stimulate tourism From what was predicted that Foreign tourists entering Thailand this year are approximately 35.7 million. Efforts must be made to increase this by another 1 million to 36.7 million, including increasing the length of stay in Thailand, which will increase spending. Measure 2 is to expedite budget disbursement. For the investment budget, which is 850 billion baht, efforts must be made to use the investment budget up to 70 - 75%, higher than the average of approximately 60%. Currently, approximately 40% has already been disbursed. Therefore, on June 12, there will be a discussion with The agency disbursed the budget below the target. Section 3 is supporting private sector investment. According to the private sector requesting support from the Board of Investment (BOI) in the past 2-3 years, approximately more than 800 billion baht, if supported to invest in 2024, approximately 3-40 billion baht. From all measures, GDP will expand up to 3%, with guidelines to drive these measures forward. Source: Thai News Agency