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COVID-19 vaccination in Indonesia (Source: Xinhua/VNA)
Jakarta (VNA) - Indonesia has lost its upper
middle-income status after a year, as coronavirus outbreaks have reversed its
gains in curbing poverty and employment.
The World Bank downgraded Indonesia to
lower-middle income
status on July 1, with a gross national income per capita of 3,870 USD. The
country had graduated to upper-middle income status last year with a GNI per
capita of 4,050 USD.
Last year, the epidemic has created negative economic growth
in almost all countries, including
Indonesia, therefore the decline in
Indonesia’s per capita income was an unavoidable consequence, Indonesian fiscal
policy chief Febrio Kacaribu said in a statement on July 8.
Numbers of COVID-19 cases still on the rise in Southeast Asia | World en.vietnamplus.vn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.vietnamplus.vn Daily Mail and Mail on Sunday newspapers.
TCG urges central bank to expand loan limits
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published : 9 Jul 2021 at 06:33
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Thai Credit Guarantee Corporation (TCG) is proposing the Bank of Thailand consider expanding the level of loans TCG is guaranteeing for borrowers of the amended soft loan scheme from 100 billion baht as the guaranteed amount is nearing the ceiling.
TCG acting general manager Wasukarn Visansawatdi said the central bank asked TCG to guarantee up to 100 billion baht of the Bank of Thailand s soft loan scheme worth 250 billion, allocated to help businesses and individuals survive the impact of the Covid-19 pandemic.
Mrs Wasukarn said TCG has provided a guarantee of 50 billion baht under the scheme, covering 17,000 borrowers.
4 A pedestrian walks past the entrance to Bang Kapi market in Bangkok which recently reopened after being closed temporarily in June. Pornprom Satrabhaya
A private sector council has cut Thailand s economic growth projection this year to 0-1.5%, mainly due to the prolonged Covid-19 outbreak.
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) decided to slash the country s gross domestic product (GDP) forecast for this year to 0-1.5% in Wednesday s meeting from an earlier estimate of 0.5-2%.
Payong Srivanich, chairman of the Thai Bankers Association (TBA), said the prolonged outbreak and spread of the virulent Delta variant had led to stringent measures by the government to contain the outbreak. The stronger measures have impacted economic activities, employment and labourers income.