Government Bolsters Exporter Support with Financial Lifelines

Economic Stimulus Funds Remain for Contingencies

The government is rolling out significant financial aid for businesses, prioritizing those engaged in exports, as the economy navigates ongoing challenges. Immediate relief is already being provided through the Export-Import Bank of Thailand (EXIM Bank).

EXIM Bank Extends Crucial Aid to Exporters

EXIM Bank has enacted several measures to support struggling exporters. These include debt moratoriums, restructuring options, and payment deferrals of up to one year. Additionally, interest rates have been reduced by roughly 20% for affected businesses. The bank is also enhancing credit availability for working capital needs and expanding financing for trade exhibitions. Export guarantee schemes are in place to foster new market opportunities and reduce risk.

Economic Stimulus Budget Still Available

Regarding broader economic stimulus, a substantial 42 billion baht is still allocated from the central budget’s 157 billion baht for economic stimulation efforts. This demonstrates the government’s commitment to maintaining economic stability and adapting to evolving conditions.

“All sectors continue to face some impact, though less than initially projected. Everyone still has increased burdens and constraints, so it remains the government’s responsibility to provide ongoing support.”

—Paopoom, Official

Funds earmarked for competitiveness enhancement and economic stimulus await final deployment decisions. The government is carefully evaluating the most effective strategies to utilize these remaining resources. In the United States, small business export growth reached approximately 1.4% in the first quarter of 2024, indicating a slow but steady recovery for some sectors (U.S. Census Bureau, 2024).