The Thai cabinet approved additional measures on Tuesday to mitigate the impact of the coronavirus-related economic crisis, Prime Minister Prayuth Chan-O-Cha said on Tuesday.
The new measures, which include subsidized loans and relief on utility bills, are intended to help businesses replenish cash flow, curb debt and help those who are unemployed, said Prayuth Prayuth Chan-O-Cha, adding that the cabinet had asked the Ministry of Finance to develop a new plan to distribute an allowance of 3,500 baht (95 euros) per month per person for two months for the most needy in sight of the next council of ministers next week.
Electricity and water costs will be reduced until March, Prayuth said at a briefing, as well as high-speed internet to promote working from home.
The number of positive coronavirus cases in Thailand more than doubled in the space of a month to reach 10,834 cases, after the discovery of a cluster in the province of Samut Sakhon, near Bangkok.
Thailand’s balance sheet, however, remains among the lowest in the world in relation to its population.
Since mid-December cases have been discovered in more than half of the 76 provinces of the kingdom. 28 of them, including Bangkok, considered “red zones” are subject to strict measures, some having even imposed a curfew and restrictions on movement.
The central bank said on Tuesday it had extended the period of debt restructuring for small businesses and debtors until June, Vice Governor Ronadol Numnonda said in a briefing.
“We are evaluating information from financial institutions to see if further action is needed,” he said.
The government has 638 billion baht (17.39 billion euros) to enable low-interest loans from state banks and the central bank for business owners and the self-employed, a indicated Finance Minister Arkhom Termpittayapaisith.
Deputy Prime Minister Supattanapong Punmeechaow said the new measures still fit in the government’s budget and there is no need to borrow more.
“If everyone cooperates, we will be able to handle the epidemic by March,” he said.
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