snoop1130 Posted February 26, 2021 Share Posted February 26, 2021 BoT points to business sector as key to economic recovery BANGKOK (NNT) - The Bank of Thailand (BoT) is pressing the government to address impact on liquidity from the COVID-19 situation in the business sector, arguing it will speed up economic recovery. Senior Director of Macro Economics at the BoT Chayawadee Chai-Anant pointed out that measures focused on triggering spending, lowering taxes and providing soft loans to SMEs resulted in significant improvement in the economy in February but admitted the tourism and service sectors are still lagging. The central bank believes service businesses such as airlines, hotels, restaurants and food and beverage producers will take some time to return to pre-pandemic performance, possibly requiring until the third quarter of next year to fully recover depending on the trajectory of the new wave of infection, the effectiveness of the vaccine and tourism confidence along with the national financial situation. The bank has recommended commercial banks help SMEs regain liquidity both by restructuring their debt to maintain employment and fuel rehabilitation and by alleviating debt pressure, suggesting that banks provide an option for debtors to buy back seized collateral assets in the future. The BoT is confident assistance for the business sector will support the labor market and drive the nation’s economy. -- © Copyright NNT 2021-02-26 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post NCC1701A Posted February 26, 2021 Popular Post Share Posted February 26, 2021 16 minutes ago, snoop1130 said: BoT points to business sector as key to economic recovery man these people are real geniuses. 1 2 Link to comment Share on other sites More sharing options...
toolpush Posted February 27, 2021 Share Posted February 27, 2021 15 hours ago, NCC1701A said: man these people are real geniuses. Ya think? Link to comment Share on other sites More sharing options...
Popular Post Isaan sailor Posted February 27, 2021 Popular Post Share Posted February 27, 2021 OK, so the Baht has relaxed a little over 1% in the last week--that's good. But it's still up 7% in six months on the USD. And with an export and tourist-driven economy--they still got a long way to go... 2 1 Link to comment Share on other sites More sharing options...
John Drake Posted February 27, 2021 Share Posted February 27, 2021 (edited) Government needs to stop hoarding money and get out Thai versions of stimulus checks to every citizen in the country. Edited February 27, 2021 by John Drake Link to comment Share on other sites More sharing options...
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