Thailand's Cabinet Approves 10.5 Billion Baht in Flood Relief: Debt Moratoriums, Soft Loans and Tax Breaks
BANGKOK — Thailand's cabinet on October 20 approved 10.5 billion baht (about US$312.7 million) in flood relief, together with measures including debt-payment suspensions and soft loans. Government spokesperson Ekkapob Pianpises told a briefing that the government had previously paid out more than 5 billion baht in flood assistance, and a finance ministry official said the cabinet also approved tax relief and customs duty exemptions for flood victims.
In September, Bangkok was declared a disaster-affected zone after nearly 300 millimetres of rain fell on the capital in just three days — about as much as it typically receives in the whole of September. The flooding disrupted operations at automakers and parts suppliers and killed at least 80 people. GSM previously reported that Thailand's flood-relief funds were running low, with a lawmaker saying on October 17 that only about 75 million baht remained while some 1.7 million people were awaiting approval.
On the economic impact, Bank of Thailand (BOT) Deputy Governor Piti Disyatat told Reuters last week that the floods were not expected to significantly affect the economy, which is forecast to grow by 2.3 percent or more this year. Flooding has affected many parts of Thailand since mid-September; the newly approved relief, together with debt moratoriums, soft loans, tax relief and customs exemptions, is intended to support recovery for affected residents and businesses. (GSM, reporting from Reuters)
Source: GSM · USA (original Chinese edition)
Photo: 曼谷湄南河畔（资料图）。照片：Piyatad／Wikimedia Commons（CC BY-SA 3.0）。The Chao Phraya riverfront in Bangkok (file photo). Photo: Piyatad / Wikimedia Commons (CC BY-SA 3.0).
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