Govt extends plan to boost spending
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published : 21 Jul 2021 at 09:31
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The cabinet has agreed to extend the Ying Chai Ying Dai scheme aimed at spurring public spending, according to the government spokesman team.
The adjustment was approved at Tuesday s cabinet meeting along with expanding the state-sponsored relief package to cover Chachoengsao, Chon Buri and Ayutthaya, which were added to the 10 provinces hardest-hit by Covid-19 and are under lockdown.
Government spokesman Anucha Burapachaisri said the cabinet has given the green light to extend the Ying Chai Ying Dai (the more you spend, the more you get) scheme originally effective from now until the end of September to the end of November.
Business baffled by gaffes
published : 5 Jul 2021 at 05:30
41 A Bangkok parking lot filled with taxis owned by cooperatives, as 2,000 cars were returned by drivers who cannot afford the rental fees. (Photo: Nutthawat Wicheanbut)
As both new daily infections and deaths caused by Covid-19 continue to set records, concerns regarding the administration s ability to govern the country have almost reached a critical point.
The third outbreak, the largest since the pandemic emerged early last year, is undermining the public health system and slowing economic recovery. As doubts over the government s management of the crisis grow, the outbreak threatens to shake the administrative power of Prime Minister Prayut Chan-o-cha s government.
Analysts shrug at new scheme
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Rather than revving up consumer spending, the key to fixing the economy is mass vaccination
published : 17 May 2021 at 04:30
9 The Ying Chai Ying Dai scheme targets 4 million shoppers with high purchasing power, aiming to increase consumer spending during the pandemic. (Photo by Pornprom Satrabhaya)
With a slow vaccine rollout, mounting Covid-19 cases and new variants entering the country, Thailand s economic future seems more uncertain than ever.
Multiple times this year Thailand s GDP growth forecast has been lowered by both domestic and international institutions, and could end up being 1%, following a contraction of 6.1% in 2020.
To combat these cratering GDP prognostications, the government unveiled an ambitious new programme to spur consumer spending and nudge upwards economic indicators this year: Ying Chai Ying Dai (the more you spend, the more you get).
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Property developers optimistic about stimulus
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published : 19 Dec 2020 at 05:00
1 A condominium near On Nut station in Bangkok. Permanent residency for foreign buyers is among the property stimulus measures proposed by developers.
The Finance Ministry may consider a proposal by property developer associations on approving stimulus relief for outstanding mortgage loans totalling 600 billion baht as a means to improve sentiment regarding property stock, especially in the condo segment, says Asia Plus Securities (ASP).
On Dec 9, property developers submitted a letter to the ministry proposing five stimulus measures for property development.
First is the reduction of ownership transfer fees and mortgage fees to the lowest rates on purchases of both new and second-hand homes until Dec 31, 2021.