Covid-19 vaccination It is both a hope for disease control and a hope for restoring the economies of all countries. Including Thailand, where there is now pilot vaccination, the government has begun to signal relief on disease control measures. During the upcoming Songkran Festival, the past “Prachachart Business” organized a seminar on “Economic Vaccine” until the country opened to tourists in the last quarter of 2021, March 17, 2021. Thailand Vaccine ”to set the direction and drive the Thai economy forward.
Mr. Archom Termpittayapaisit, Minister for Sound, gave a special presentation. “Economic Roadmap – Investment in Thailand” that the first batch of vaccines has now arrived. And the cabinet (cabinet) has already vaccinated Vaccination is considered necessary. Because it will build immunity What needs to be done at the same time as treating the still-spreading disease How in the economy What the vaccine industry is not new Since the 1997 crisis, it has been mentioned that the Thai economy needs to be immune.
The indicators of the Thai economy are improving.
At present, various indicators of the Thai economy are considered better. In February 2021, economic data showed signs of improvement, which has actually been improving since the third quarter of 2020. 4 A new wave of COVID has been detected in Samut Sakhon Bringing economic activity to a standstill for a while But after a while the economy started to improve. There was a recent outbreak in the market in Bangkok’s Bang Khae district, but it convinced medical staff that they could deal with the epidemic
Rely on PTT’s revenue to get the economy going again
That the economy will recover fully Will mainly depend on external factors Must have foreign currency income Although export growth was emerging, it was still at a low level. And what is still missing is the tourism sector. What to Expect with Various Easing Measures and Taking Good Care of the COVID Situation It is believed that tourism revenues will return from the fourth quarter of this year and will continue until next year.
“If we see signs of economic recovery but that is a question of when will the economy recover fully? That depends mainly on external factors,” said Arkom.
In addition to expecting income from foreign tourists, Thais must also encourage to travel abroad too, in order not to lose the airlines
Need 3 Vaccinations to Restore Thai Economy
Mr Arkom said so that the economy recovers sustainably. You will need 3 vaccines: 1. Macro vaccines Or at the national level Taking Care of Economic Growth In addition to maintaining economic stability, inflation need not be too low and cause negative interest rates. At the same time, we must maintain a stable international reserve. Including the country’s budgetary position And take care of the country’s debt burden
However, during this time, a loan to maintain the land may be required. What All Countries Are Recovering Even the United States has up to $ 1.9 trillion in borrowing, or about 60 trillion baht, that is borrowed when borrowing. Must generate income The necessary investments in infrastructure are required.
2. The real economy vaccine Which building immunity? The division has to deal with risks. And the financial sector has to help. Must go together. At the same time, the government will allow the private sector to play a more active role in investing. Creating a new economic basis, especially in the Eastern Economic Corridor Development (EEC) project
“We hope that the EEC will be one of the projects that will stimulate the growth of our economy. There is investment in both infrastructure and 12 new industries that make up the New S curve, ”said Arcom.
Plus the incoming digital stream, the private sector needs to do more digital business. Otherwise the competition will definitely be disadvantaged. In the past, digital has been used in many government projects to heal people and boost the economy through mobile applications. From tasting, shopping, using, we travel together for half of us, we win, etc.
Financial policy focuses on three areas to support the business.
In support of the corporate sector, Mr. Arkom said the Ministry of Finance’s policy was 1. Concentration on promoting digital business, especially start-ups. Which will try to adjust the tax structure to make it easier, in addition to collecting taxes from overseas e-service providers, 5G technology will also benefit people in remote areas. 2. Support clean energy to deal with the effects of climate change that are a major problem in the world; and 3. Promote health and medicine to cope with an aging society
As for the third vaccine, the public vaccine What must a career create? Create a stable income for the people in the foundation. And helping SMEs gain access to more sources of finance. Recently, improvements have been made to make SMEs more accessible to public procurement.
Treasury wants to challenge GDP this year to grow 4%
Mr Arkom said that at a recent meeting with the International Monetary Fund (IMF), the IMF expects the Thai economy to grow by 2.6% this year, according to estimates by the Office of the National Council for Economic and Social Development (NESDB) will grow The economy will grow by 2.5-3.5% this year, and the Treasury estimates growth at 2.8%.
However, the Treasury Department has a challenging goal: I will try to boost the Thai economy to 4% this year, which the economy must propel through investment incentives. Advancing investments in the EEC There is a stimulus And must open the country soon What also has to be considered in connection with the security of COVID, the operators in Phuket want to open the country soon. But the government has to wait to hear public health opinions too.
“The 4% growth target is mainly due to the recovery in exports. US stimulus $ 1.9 trillion. Will it allow Thailand to receive this part of the earnings? State investments must also be stepped up. Especially with regard to the infrastructure, which has to be continuously developed, “said Arkom.
The IMF advises Thailand to stimulate the economy for two years in a row
Mr Arkom said the IMF has made two recommendations: 1. Thailand still needs to stimulate the economy. Support until you are sure that the economy has successfully recovered. It is expected to take two years from now and 2. make monetary policy more specific for those affected by COVID. What the Treasury Department and the Bank of Thailand have jointly discussed It will shortly take care of those affected who are larger than SMEs through a gentle change in the law and a debt settlement.
Expanding the scope of soft lones to help large businesses
“Currently the Treasury Department is in talks with Bank of Thailand to help large entrepreneurs through the resolution of the Softloan Act. This will expand to companies larger than SMEs, such as the hotel sector, which will provide new loans. Linked to the Debt Warehouse -Project This allows the company to continue working and not transfer the company to the warehouse first. And if they have the ability, they can buy it back at a fair price, ”said Minister Klang.
At the same time, the Treasury Department is preparing a “We are Binds” project to heal the workforce. However, minority officials affected by COVID have not yet reached an agreement on budget limits. Forms, Conditions, Remedies, and Spending Initially, there would be around 1 million low-ranking government officials.
