Economics

Thailand to implement measures to mitigate effects of coronavirus

New measures include extending the deadline for the paying of taxes from March to June, doubling the tax reduction on expenses incurred in organizing a seminar in Thailand

Published

12 months ago

February 6, 2020

National News Bureau of Thailand

BANGKOK (NNT) – The Cabinet has approved the Ministry of Finance’s proposal to introduce monetary and tax-related assistance policies to mitigate the side effects of the 2019 novel coronavirus outbreak in China, that has caused a tremor in global public health and the world economy.

Spokesperson of the Ministry of Finance, Lavaron Sangsnit said today that the measures include extending the deadline for the paying of taxes from March to June, doubling the tax reduction on expenses incurred in organizing a seminar in Thailand this year, and reducing the rate of excise tax on jet fuel.

He said the policy also offers an extension of the debt payment period of state banks such as the Government Savings Bank, SME Development Bank, Bank for Agriculture and Agricultural Cooperatives, and Government Housing Bank.

The Ministry expects these measures will stimulate the Thai tourism economy amid the coronavirus outbreak, by increasing liquidity and easing the financial burden of entrepreneurs and members of the public, while also providing assistance to the tourism and aviation industries.

Economics

Thai economy to grow 4% in 2021 following 6.5% decline in 2020

The World Bank is now expecting the Thai economy to see 4% growth this year, and a 4.7% growth in 2022, despite current challenges from the new wave of COVID-19 infections.

Published

4 days ago

January 21, 2021

Olivier Languepin

The World Bank now expects that the Thai economy to expand by 4 per cent in 2021, according to the latest World Bank Thailand Economic Monitor report “Restoring Incomes, Recovering Jobs” released on Wednesday (Jan 20).

(more…)

Banking

BoT sees mild impact of new COVID-19 wave on the economy

The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

Published

7 days ago

January 18, 2021

National News Bureau of Thailand

BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.

(more…)

Economics

COVID-19 brings first consumer confidence drop in 3 months

Consumer confidence in December 2020 was measured at 50.1 points, down from 52.4 the previous month. Economic confidence was also down to 43.5 from 45.6 points.

Published

2 weeks ago

January 14, 2021

National News Bureau of Thailand

BANGKOK (NNT) – Concerns linked to the new wave of COVID-19 infections has weighed on both daily life and business, resulting in the first drop in the Consumer Confidence Index in 3 months.

(more…)