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Six-point plan set to cushion economy |
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Wednesday, 15 October 2008 |
The Thai government has announced a a six-point plan to reinvigorate the capital market and other sectors of the economy in a bid to help Thailand deal with global financial threats. The 12 billion baht plan will be used as support funds to shore up sagging stock prices, while the Stock Exchange of Thailand will set up a 10 billion baht matching fund in partnership with financial institutions to buy shares. Also, tax allowances for investors of long-term equity funds and retirement funds will be increased from 500,000 baht to 700,000 baht per person. In addition, the 2009 state budget for mega-infrastructure construction projects will be increased from 250 billion baht to 350 billion baht, for mass transit, other transport and energy projects.
The Nation
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