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Thailand focuses on three areas to revive economy

Thailand’s Ministry of Finance this year will focus on three areas to revive the national economy amid slower-than-expected recovery and a second wave of COVID-19.
Thailand focuses on three areas to revive economy ảnh 1The seal of Thailand’s Ministry of Finance (Photo: nationthailand.com)

Hanoi (VNA) – Thailand’sMinistry of Finance this year will focus on three areas to revive the nationaleconomy amid slower-than-expected recovery and a second wave of COVID-19.

First, the ministry will urgently push foreconomic revival by speeding up budget disbursement and state spending. It alsowould streamline the tax structure to fit well with the economic and socialchange.

Second, the ministry will adjust thecountry's economic structure by seeking ways to promote investment in newtechnologies, such as the next generation automotive, digital business andcomprehensive medical business. This will enable Thailand to offer products andservices with high economic values.

The ministry will also push for therevision of rules to increase its own performance in providing services to thepublic.

Kulaya Tantitemit, spokesperson of the ThaiMinistry of Finance and Acting Director-General of the Fiscal Policy Office,said that a challenge this year would be how to restore Thailand's economicgrowth to the pre-COVID-19 era.

The management of macroeconomic policy inthe next step would have to take into account the prevention of a second waveof the outbreak and the equitable distribution of anti-virus vaccine.

The Thai economy is projected to grow 3 to4 percent this year after contracting by almost 10 percent in 2020.

It will not be until the end of 2022 beforethe Thai economy returns to its pre-pandemic level of 2019. However, if thereis another wave of COVID-19 in Thailand, or if effective vaccines are delayed,the recovery could be slower than anticipated./.

VNA
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