Finance Ministry mulls Q4 stimulus spending spreeThe Finance Ministry might pump fresh money into the economy in the fourth quarter and extend stimulus measures in an effort to revive the nation, says Finance Minister Arkhom Termpittayapaisith. He said the ministry wants to stimulate domestic spending in the fourth quarter as many economists and companies forecast a stagnant economy this year, attributed to the impact of the prolonged pandemic. He said the ministry will consider a proposal from companies to relaunch the tax rebate scheme "Shop Dee Mee Khuen" that was introduced last year. He estimated raising the tax deduction to 50,000 baht would cost the state tax revenue of between 7-10 billion baht, but would stimulate consumer spending of 50 billion baht. This disbursement should result in the public debt ratio surging to 62.7% by the end of fiscal 2022, said Mr Arkhom.
