The seal of Thailand’s Ministry of Finance (Photo: nationthailand.com) Hanoi (VNA) – 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.
First, the ministry will urgently push for economic revival by speeding up budget disbursement and state spending. It also would streamline the tax structure to fit well with the economic and social change.
Second, the ministry will adjust the country's economic structure by seeking ways to promote investment in new technologies, such as the next generation automotive, digital business and comprehensive medical business. This will enable Thailand to offer products and services with high economic values.
The ministry will also push for the revision of rules to increase its own performance in providing services to the public.
Kulaya Tantitemit, spokesperson of the Thai Ministry of Finance and Acting Director-General of the Fiscal Policy Office, said that a challenge this year would be how to restore Thailand's economic growth to the pre-COVID-19 era.
The management of macroeconomic policy in the next step would have to take into account the prevention of a second wave of the outbreak and the equitable distribution of anti-virus vaccine.
The Thai economy is projected to grow 3 to 4 percent this year after contracting by almost 10 percent in 2020.
It will not be until the end of 2022 before the Thai economy returns to its pre-pandemic level of 2019. However, if there is another wave of COVID-19 in Thailand, or if effective vaccines are delayed, the recovery could be slower than anticipated./.
