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Thai MPs Approve Latest Stimulus Package

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

19 June 2009

Members of Parliament in Thailand have approved two bills which will allow the government to borrow funds to put together a new stimulus package worth THB800bn (USD23.5bn).

The funds - which are due to be raised via the country's local money markets - will be added to the government's "Invest for Strength" stimulus programme, which is estimated to be worth around THB1.4 trillion (USD41bn).

The cash will be released over a three-year period, with the majority used to fund public development and improvements to infrastructure.

Opposition leaders strenuously objected to the legislation, and eventually walked out in protest.

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