webfact Posted October 21, 2020 Share Posted October 21, 2020 Finance Minister Arkhom gives economic update BANGKOK (NNT) - The Finance Minister, Arkhom Termpittayapaisith, says Thailand’s economic outlook has been upgraded to a 7.1 percent contraction, from a 7.7 percent decline, thanks to the government’s measures to support the business sector. As the soft loan scheme ends on October 22, the government will continue implementing measures to boost liquidity, and the issue will be clear early next week. Mr. Arkhom said after the cabinet meeting yesterday that Deputy Prime Minister and Energy Minister, Supattanapong Punmeechaow, had presented a report on the country’s economic outlook from the International Monetary Fund’s (IMF) database. Thailand’s gross domestic product (GDP) growth has been revised to a contraction of 7.1 percent this year, up from a negative 7.7 percent. The overall economic situation in the country has improved, following the relaxation of COVID-19 restrictions and measures to boost liquidity in all sectors. As a result, financial liquidity in Asia has seen a faster recovery than other regions in the third and possibly fourth quarters of the year. Regarding the liquidity measures, which include temporary suspension of debt repayments, the Finance Minister said his ministry will continue implementing them, while overseeing the scope of duties of state-run financial institutions to improve the liquidity of the business sector. The ministry is currently coordinating with all banks, and the issue will be clear early next week. -- © Copyright NNT 2020-10-21 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 2 Link to comment Share on other sites More sharing options...
kingofthemountain Posted October 21, 2020 Share Posted October 21, 2020 Fantastic news i predict a lot of wais and a bonuses distribution all around TIT Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted October 21, 2020 Popular Post Share Posted October 21, 2020 11 hours ago, webfact said: says Thailand’s economic outlook has been upgraded to a 7.1 percent contraction, from a 7.7 percent decline, thanks to the government’s measures to support the business sector 1 2 Link to comment Share on other sites More sharing options...
hotchilli Posted October 22, 2020 Share Posted October 22, 2020 18 hours ago, webfact said: Regarding the liquidity measures, which include temporary suspension of debt repayments, the Finance Minister said his ministry will continue implementing them, while overseeing the scope of duties of state-run financial institutions to improve the liquidity of the business sector. The ministry is currently coordinating with all banks, and the issue will be clear early next week. So nothings happened then. Link to comment Share on other sites More sharing options...
JusticeGB Posted October 22, 2020 Share Posted October 22, 2020 The contraction has been reduced because the Government has borrowed money to reduce it and artificially increase spending. That makes sense! 1 Link to comment Share on other sites More sharing options...
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