Mr. Paopum Rojanasakul, Deputy Minister of Finance, said at the opening seminar of Fitch on Thailand 2024 organized by Fitch Ratings that the government aims to find ways to stimulate the economy through tax measures at the end of the year in order to continuously increase GDP growth to 3% early next year. He admitted that using money from the digital wallet project plus major economic stimulus measures will increase money circulation after the GDP in 2024 is expected to expand by 2.7% as a result of the transfer of 10,000 baht to vulnerable groups, totaling 145 billion baht, causing GDP to increase by 0.3% from the original target of 2.6% GDP growth. Mr. Paophum added that the Ministry of Finance would like rating agencies and investors to see Thailand's potential, including its financial and fiscal positions, which are Thailand's key strengths, so that rating agencies can use them to consider ranking Thailand, considering three main areas: 1. economic growth, 2. public debt, and 3. the ability to raise fun ds. Economic growth (GDP) is on a positive track. It is admitted that Thailand's GDP is satisfactory in the third and fourth quarters of this year, including the next phase. In the past, the government has tried its best to implement various measures, despite the limitations of the delays in the budget that was issued. However, the government has tried to do as much as it can, which has begun to bear fruit in the GDP this year. For public debt, Thailand's public debt is currently about 63-64 percent of GDP. However, in calculating Thailand's public debt, it is different from the definition of the International Monetary Fund (IMF). It was found that Thailand's public debt is 57 percent of GDP, indicating that Thailand has the ability to raise funds in the potential capital market. Source: Thai News Agency
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