BANGKOK (NNT) – In light of the economic downturn resulting from the original COVID-19 outbreak, concerns have been raised again following a report of a new outbreak in Thailand, with more than 1,000 cases now being linked to a shrimp market in Samut Sakhon. The government’s economic team has reassured the public that Thailand is capable of handling the new crisis, with a safe treasury balance and more economic stimuli by the government in the pipeline.
Deputy Prime Minister and Minister of Energy Supattanapong Punmeechaow has commented regarding the new wave of COVID-19 cases in Thailand that it will take at least a week for the situation to be fully assessed, however he believes the situation will soon be under controlled, based on the excellent operations of the initial outbreak.
The Minister of Energy said today the government will be pursuing its economic stimulation measures, including the 50:50 co-pay campaign, increased state welfare card allowance, and tax discounts, that have helped the Thai economy to perform better than expected this year.
He said the government will be expediting infrastructure investments and creating confidence among new and international investors, in the expectation of seeing big investments in late 2021 or by 2022.
The Minister of Finance, Arkhom Termpittayapaisith said today that the Ministry of Finance has set its priorities for next year as a time of economic recovery, by implementing active economic operations alongside the disease control operations.
He said the Ministry of Finance has started its operations by helping laid-off or furloughed persons, merchants affected by lockdown measures, and people who have had their income affected by the crisis, to be followed by the taking out of 1 trillion baht emergency loan to support the healthcare system and other sectors, as well as encouraging economic recovery through economic and shopping stimulation campaigns.
Mr Arkhom said the government now has a 3 trillion baht budget for the year 2021, plus a 560 billion baht treasury balance. He expects this amount of funds can be managed without a problem, and that the Thai economy will recover from this crisis as fast as its recovery in 1997.