InfoQuest (August 4, 2021) -- According to Danucha Pichayanan, Secretary-General of Thailand National Economic and Social Development Council and secretary of loan expenditure management committee, the government has loaned 1 trillion THB to mitigate the impact of COVID-19, of which 400 billion THB is used for economy revitalization. So far the government has reserved a budget of 4 billion THB.
About 200 to 300 projects have been officially approved, which mainly comply with the below two characteristics:
Firstly direct employment: since the end of last year, the government has approved the qualified programs for direct employment of new graduates or the unemployed, which cover most regions in Thailand.
Secondly creating employment locally: the qualified long-term programs mainly target at local peasants that guarantee their job stability and adequate supplies in agricultural production.
Some other programs not involved in the revitalization plan are to spur the economy, e.g. A Half Share and Let's Go Traveling. These programs will have considerable impetus effect on economy.
The policies are apparently beneficial to employment. Shown by the present employment statistics, about 300,000 to 410,000 people are employed and thus gain income and spending power. From the perspective of consumption, the programs of A Half Share and Let's Go Traveling can more or less support economic growth especially the community economy.
Secretary-General Danucha said these programs have made certain progress and created more job opportunities. The overall execution result is satisfactory. The peasants come to understand that agricultural production is not about quantity but quality. The government will try ever effort to expand the influence of programs and maintain the job stability of peasants in a sustainable manner.
In the next stage, the government will implement the loan act of 500 billion THB to offer subsidies to the people, among which around 170 billion THB is used to revive the economy.
At present, NESDC, Ministry of Finance and Bank of Thailand are discussing the program to support the small and medium-sized enterprises (SMEs) that are hit hard.
"When issuing measures to help the people, the government has not provided much assistance to business operators. Therefore the government should take the SMEs seriously that have suffered heavy losses."
Source: InfoQuest, by Ratchada Kongkhunthien / Sasithorn Simporn, translated by Xinhua Silk Road
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