May 14, 2020 / 9:53 AM / 21 days ago

Thailand to set up $3 billion fund to help small businesses hit by virus

FILE PHOTO: Thailand's Deputy Prime Minister Somkid Jatusripitak speaks during a seminar on fintech in Bangkok, Thailand, June 14, 2017. REUTERS/Chaiwat Subprasom

BANGKOK (Reuters) - Thailand will set up a fund worth up to 100 billion baht ($3.11 billion) to support small businesses affected by the coronavirus outbreak, a deputy prime minister said on Thursday.

“Small operators still have no access to funding, which is a worry,” Somkid Jatusripitak told a briefing after meeting with the finance minister, the central bank governor and other state agencies.

The economy will definitely shrink this year and updated forecasts will be released by the state planning agency on Monday along with first-quarter gross domestic product (GDP) data, Finance Minister Uttama Savanayana said.

Reporting by Kitphong Thaichareon, Writing by Orathai Sriring; Editing by Himani Sarkar

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