The government previously used tax measures to promote tourism in secondary cities, allowing both organisations and individuals to deduct tourism expenses in these areas for tax purposes. "However, using credit measures to stimulate the economy carries lower fiscal costs compared with other measures." He said the ministry is about to introduce tax measures to attract investment, which will be submitted to the cabinet within 1-2 weeks. In addition, to increase access to formal credit for small and medium-sized enterprises, Mr Paopoom said the ministry is in the process of improving credit guarantee measures for the state-owned Thai Credit Guarantee Corporation (TCG). The government's increased deficit has led to a rise in public debt levels to 64.3% of GDP as of May, but this level is still considered manageable by the Public Debt Management Office.

Source: Bangkok Post July 04, 2024 10:56 UTC