Economics
COVID-19 reduces Thai household income by 70 percent
The ongoing COVID-19 pandemic has already decreased Thailand’s monthly household income by 70 percent.
The Office of the Royal Society has organized a round-table discussion about the economic hurdles caused by the ongoing COVID-19 pandemic, which has already decreased Thailand’s monthly household income by 70 percent.
BANGKOK (NNT) – Speaking of post COVID-19 economic recovery, since the government’s new economic team took office, a survey by Suan Dusit Poll reveals that many people want the government to create more jobs, shore up prices of agricultural products and stimulate domestic consumption.
According to the online survey on solutions to economic issues, 85 percent of the respondents want to see more jobs created to solve economic problems at the household level. Other issues include income generation, improving welfare benefits and a supension of debt repayments.
At the community level, they would like the government to focus on shoring up prices of agricultural products, followed by resource optimization, a strengthening of communities and creation of local jobs while regulating middlemen.
At the national level, the respondents want the government to further support the agricultural sector, followed by export and tourism promotion, increasing investor confidence and supporting the industrial sector.
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
The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.
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.
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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