Thailand’s consumer confidence index (CCI) edged up in November, bolstered by the news from the National Economic and Social Development Board (NESDB) that the country’s economy had picked up, according to a leading economic forecaster.
Director Thanawat Palavichai of the University of the Thai Chamber of Commerce (TCC) Economic and Business Forecasting Center said the confidence index on overall economy climbed to 69.1 in November from 68 in October.
The CCI on job opportunities rose to 67.8 in November from 66.9 in October and on future incomes to 92.6 from 91.1.
Dr Thanawat said the consumer confidence index declined in October since consumers were uncertain about both the domestic and international economies.
The CCI edged up in November due to the NESDB assertion that the economy had improved, with a stronger baht, increased trading on the Stock Exchange of Thailand, stable oil prices, and the flow of money into the economic system following the implementation of Thai Khem Keng (Strong Thailand) scheme.
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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
50:50 campaign may not get immediate extension
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.
Customs Department Considers Measures to Help SMEs
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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