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Thai Finance minister: no more money into economy for 2010

Finance Minister Korn Chatikavanij on Wednesday indicated the government need not inject more money into the economic system for 2010 because the expenditure budget and investment amount under the Thai Khem Keng (strong Thailand) scheme are already enough to drive the country’s economy.

He said the 2010 budget amounting to Bt1.7 trillion, when combined with an investment amount of Bt300 billion under the Thai Khem Keng scheme, would reach Bt2 trillion, sufficient to drive the economy.

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Finance Minister Korn Chatikavanij on Wednesday indicated the government need not inject more money into the economic system for 2010 because the expenditure budget and investment amount under the Thai Khem Keng (strong Thailand) scheme are already enough to drive the country’s economy. He said the 2010 budget amounting to Bt1.7 trillion, when combined with an investment amount of Bt300 billion under the Thai Khem Keng scheme, would reach Bt2 trillion, sufficient to drive the economy.

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Finance minister: Unnecessary to inject more money into system

Infrastructure services, if quickly improved, could promote a better investment climate in Thailand

Recent crashes in Thailand’s GDP and export markets, plus the drop in tourism fuelled by recession and last year’s domestic political turmoil, have dispelled illusions that the country is insulated from the effects of the global downturn. Numerous indicators of economic health are hitting the red, foreign investment is evaporating, unemployment is surging, and credit lines are freezing up. Thailand’s government still says there is a possibility of positive growth this year, despite facing a rougher ride than in the 1997 Asian financial crisis as conditions infest the real economy on a broader scale.

Finance Minister Korn Chatikavanij on Wednesday indicated the government need not inject more money into the economic system for 2010

Finance Minister Korn Chatikavanij on Wednesday indicated the government need not inject more money into the economic system for 2010

Thailand’s economic growth over the last three decades has been fueled and accompanied by rapid industrialization, urbanization, and by intensified agricultural production and fishing. This growth, which has relied extensively on the country’s abundant and diverse natural resources, has degraded land and water quality, caused the loss of natural habitats, and generated increasing levels of air and water pollution. In response, the Government and people of Thailand have launched new initiatives to improve air and water quality, reforest degraded land, adopt energy efficient technologies and invest in pollution abatement schemes.

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Thai fruit exports to FTA markets up 107 percent

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National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

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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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Economics

50:50 campaign may not get immediate extension

National News Bureau of Thailand

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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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