The impacts of the Russian invasion of Ukraine have reverberated throughout the globe and compounded issues brought on by the pandemic. Thailand is now proceeding with measures in three areas aimed at mitigating the economic repercussions. The measures call for reducing living expenses, mitigating debt burdens, and accelerating large investments that will distribute income across localities.
Prime Minister Gen Prayut Chan-o-cha recently called a meeting of his advisors to discuss the measures while acknowledging higher energy costs and prices for certain commodities.
Prime ministerial advisors were told to proceed with determining measures under three propositions. Measures under the first proposition relate to reducing people’s expenses, especially for vulnerable groups. These may involve assistance with fuel oil, cooking gas and electricity bills.
The second proposition deals with measures to alleviate debt burdens and help people avoid having their assets seized by lenders. The government has designated 2022 as “a year for resolving household debts”.
The third proposition calls for investments that will boost Thailand’s competitiveness and increase people’s income. Large public investment projects will be accelerated so money gets injected into various localities. These projects include the EEC, infrastructure for improving connectivity and distributing resources to various regions and locales, and railways for shipping export products.(NNT)
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