Deputy Finance Minister “Phaophum” prepares big news. Create long-term savings incentives

Bangkok, Deputy Finance Minister "Paophum" prepares big news. Create long-term savings incentives Announcing the expansion of the tax base instead of increasing the rate. Revealing that in the second half of the fiscal year 2024 and 2025, digital money will push Thai GDP. Prepare to propose to the Cabinet to add capital to 3 target groups. Move forward and join hands with the BoT. Take care of the economy Mr. Paophum Rojanasakul, Deputy Minister of Finance, said after giving policy to the executives of the Fiscal Policy Office that the coordination of monetary and fiscal policies of the BoT and the Ministry of Finance We have to work together and accept that there are differences. Because the GDP estimates are different. As a result, policy implementation is still inconsistent. Both agencies therefore need to discuss closely together. And more often, it is accepted that the FPO is an agency that has effective GDP forecasting tools. Therefore want it to be developed further. For the positive factors of the economy in the second half of the year It is seen that there is a large amount of money from 3 sources entering the system. Both the 2024 budget, the 2025 budget and another 500 billion baht of digital wallet money help circulate in the system at the end of the year, confirming that the source of money to support the 500 billion baht digital wallet project is clear, especially with the money from the Bank. BAAC 172 billion baht because many governments have used BAAC mechanisms to take care of farmers through various policies. When someone is suspicious Therefore submitted it to the Royal Decree for consideration. to relieve doubt When a large sum of money enters the system This may cause GDP in 2024 to expand beyond the target of 2.4 percent this year. 'The government has studied big measures. Let it be good news for the people. To create more incentives for people to make long-term deposits. Because many of the original funds There are only limitations in many areas, including the GPF fund, the Social Secu rity fund. Provident Fund, Government Savings Bank Fund, Ministry of Finance has studied to create additional incentives for saving. Ministry of Finance Still preparing to propose to the Cabinet soon to grant loans to 3 main groups as target industries. lenient conditions To add capital to SMEs and entrepreneurs including food groups, comprehensive medical services, and tourism,' Mr. Paophum said. In terms of capital replenishment Opening up opportunities for small businesses, SMEs, and entrepreneurs to access more capital. therefore has an open policy To issue a license to establish an unlimited number of Virtual Banks (branchless banks). Which private sector Fully qualified It should be considered according to the requirements. It is not limited to only the 3 large private sector companies. There is also a policy to change conditions. In the matter of Pico Finance Let there be more establishments in other provinces. If anyone has the potential to open a branch in a nearby province, they can do so. No need to open only in the area. To reduce the problem of informal creditors charging high interest rates, creating a burden on the people. Mr. Paophum added that During the economic slowdown Still not fully recovered Not suitable for increasing tax rates of many types. to harm the people But will use the guidelines Bring entrepreneurs or citizens with income that meets the criteria into the system. To expand the tax base even more The tax burden is not very high. When there are more taxpayers, the state's income increases. But it does not affect the well-being of the people. Source: Thai News Agency