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Thai economy likely to grow 2.5 to 3.5% in 2010

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The Thai economy is projected to grow 2.5-3.5 per cent this year, boosted by an increase in tourism activities, exports and investment, according to a leading academic economist.

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Anusorn Tamajai, dean of Rangsit University’s Faculty of Economics, forecast the economy will continue to enjoy impressive growth of 6 per cent in the first quarter of this year from 5.8 per cent in the fourth quarter last year.

But after that, he said, the economy is likely to grow at a slower pace due to higher inflation rates, rising interest rates, fiscal measure constraints, and global economic uncertainties.

Overall, tourism, exports, and investment would benefit from the quick recovery of both Asian and US economies. Still, some regions, particularly Europe, might have difficulties with economic recovery.

Dean Anusorn suggested the Thai government not lift economic stimulus measures for this moment. Instead, it should prepare and opt to count on them in a proper time because the Thai economy remains vulnerable to political instability.

via Thai economy likely to grow 2.5-3.5% this year: leading academic.

Economics

The Future of Asia: greener but with a public and private debt hangover

The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

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The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.

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50:50 campaign may not get immediate extension

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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Economics

Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

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BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

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