Thailand plans more COVID-19 stimulus packages to save jobs
The Thai government is planning additional measures to spur domestic consumption and save jobs as the country battles its most severe outbreak of coronavirus cases so far.
“We need to have enough oxygen for the business sector to get going… and to sustain consumption at normal levels,” Danucha Pichayanan, head of the National Economic and Social Development Council said at a seminar, according to Bloomberg, adding that “we can survive if we help each other”.
The measures include assistance to the tourism industry, which has been hit badly by the outbreak, and support to retain jobs at smaller companies, he said.
The measures would be financed by new borrowing of 500 billion baht (US$16 billion), which has already been approved by the king, he added.
“If asked when tourism will return, nobody can give a clear answer,” he said, estimating that global air travel would take over two years to normalise, according to international air traffic data.
In January, the government unveiled a 210 billion baht (US$6.7 billion) stimulus package, which included handouts to support individuals and companies impacted by the pandemic.