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Second Stimulus Package For Thailand

by Mary Swire, Tax-News.com, Hong Kong

19 March 2009

The Thai government has unveiled plans to introduce another set of fiscal stimulus measures to further bolster economic growth.

According to the country's Prime Minister, Abhisit Vejjajiva, the new stimulus package will total around THB1.4 trillion, (USD39bn) and will be injected into the economy over a period of two to three years.

Funding for the package will be raised through foreign loans - the majority of which will then be spent on improving the country's public services and infrastructure.

The new economic spending package will be the second allocated by the government since the start of the year. The first package, announced in January, was worth THB116.7bn (USD3.35bn).

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