Fetco warns of recession, urges action
Govt told to increase stimulus, debt limits
published : 23 Jul 2021 at 04:30 A man receives a Covid-19 vaccination at The Mall Ngamwongwan in Nonthaburi. Mr Paiboon of Fetco believes the economy could fall into recession because of slow jab progress. Pattarapong Chatpattarasill
Paiboon Nalinthrangkurn, chairman of the Federation of Thai Capital Market Organizations (Fetco), has urged the government to accelerate economic stimulus and temporarily raise the public debt ceiling to 70-75% of GDP, or borrow an additional 800 billion to 1 trillion baht to help the country weather the pandemic.
He said the Thai economy could slip back into recession because of the government s failure to achieve its vaccination target and herd immunity by this year as expected.
As Covid-19 batters Thailand s economy, even pawnshops are running out of customers
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As Covid-19 batters Thailand s economy, even pawnshops are running out of customers
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Financial institutions urged to soften stance
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published : 15 Jul 2021 at 04:00
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The Finance Ministry has ordered state-owned financial institutions to consider suspending principal and interest payments for all clients suffering from the effects of the pandemic, rather than using a case-by-case basis, says Krisada Chinavicharana, the ministry s permanent secretary.
The ministry believes financial assistance should be provided on a blanket basis to match the wide scale of the impact caused by the pandemic, he said.
The move is in line with the cabinet s request to the ministry and the Bank of Thailand to jointly discuss with related parties ways to ease the burden of banks clients from the impact of the pandemic.