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The Finance Ministry is preparing immediate and longer-range policies to see the economy through the global financial crunch and domestic slowdown next year.

"The team is evaluating the impacts and Thailand's weak points. The short, medium- and long-term measures should be finalised in the next few days, before being submitted to the finance minister," Somchai Sajjapongse, director-general of the Fiscal Policy Office, said yesterday.

Meanwhile, the Thailand Develop-ment Research Institute is suggesting that the government focus on accelerating investment in mega-projects to keep the domestic market humming. The institute is worried about high unemployment next year.

The Fiscal Policy Office's new crisis plan would mitigate the global impacts, as well as boost confidence, investment and competitiveness as well as reduce poverty, Somchai said.

Action is necessary as the global downturn could hurt the economy, particularly jobs, he said. However, he insisted that fiscal discipline would be respected.

Stock Exchange of Thailand president Patareeya Benjapholchai briefed the Cabinet on the recent slump in Thai shares, which prompted the exchange to suspend trading twice this month. She said the exchange had no measures to shore up the market, which falls in tandem with bourses worldwide.

In the past few months, more and more listed companies have disclosed share buy-back plans worth a combined Bt7 billion, with Bt1.4 billion of shares already purchased for treasury stock. Patareeya believes the market will be buoyed by the government's decision to increase the maximum personal-tax deduction on investment in long-term equity and retirement funds to Bt700,000, as well as the release next month of listed companies' third-quarter results.

Finance Minister Suchart Thadathamrongvech said these measures should shore up the market, while the ministry pays more attention to the overall economy and employment.