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Economics

More stimulus measures needed next year says Finance Minister

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Finance Minister Korn Chatikavanij yesterday reiterated the need for stimulus measures next year to stabilise the economy, saying it remained susceptible to persistent global risk factors.

“Risks to the economy will persist next year. Despite improvements in the global economy, crises in Dubai and Greece reflect the fact that the global crisis is not yet over. The government must thus place further emphasis on stability,” he said yesterday.

Korn said Bt300 billion from the Bt1.43-trillion Thai Khemkhaeng package would be disbursed next year.

Korn said Bt300 billion from the Bt1.43-trillion Thai Khemkhaeng package would be disbursed next year

He is confident Thailand's fiscal position will be strong enough to finance the measures, especially since the ministry plans to ask for Cabinet approval early next year for the proposed new land and property tax.

Tax collections should also improve, and all of this will help reduce government borrowing and fiscal deficits.

via More stimulus measures needed next year:Korn – Nationmultimedia.com.

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

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Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

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Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

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BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

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