Mr. Phayong Sriwanich, president of the Thai Bankers’ Association, revealed that Thai financial markets Began to be influenced by rising US government bond yields. Especially long-term government bonds As a result, investors are selling long-term Thai government bonds. And causing the baht to depreciate The next factor that needs to be monitored is the US monetary policy. That may create volatility on financial markets around the world.
The Thai Bankers’ Association Has prepared a proposal for measures to help businesses of the Thai Bankers Association That has been in close coordination with the Bank of Thailand (BOT) and the Ministry of Finance. To discuss proposals for measures to stabilize and stabilize the economy Break through the COVID-19 crisis under the concept of “improving, restoring, transforming” to look forward to solving problems and responding to the needs of potential entrepreneurs to overcome the crisis. There is also time for the business to adjust. To support further growth in the future by
– Renovation: “Debt Settlement Project”, which is a voluntary project. To help entrepreneurs who have been adversely affected by the new COVID-19 situation but still have the potential to recover and survive by allowing operators to temporarily reduce their financial burden. By transferring the assets to the bank with a repurchase agreement To wait for the recovery of the business without losing the business
– Recovery: for businesses that have begun to recover And there is a need for a credit limit to supplement that additional liquidity This increases the credit limit that is supported by the government sector. Both to enhance liquidity To support the return to normal business operation By offering the government sector to support liquidity so that potential entrepreneurs can access the credit line
– Change: Using e-Invoicing on the Platform to have a central standard in terms of Invoice format, reasonable duration of Credit Terms, which will include complaints. And asset return during that period as well, in order to provide entrepreneurs with access to transparent sources of trading capital. And fair to all operators And will make the trade credit system more efficient and competitive.
Mr. Suphan Mongkolsutee, Chairman of the Federation of Thai Industries (STO), revealed that at the meeting of the three private sector joint committees (CCP), said that the meeting The CCC has important proposals to the government sector as follows:
1. Let the government accelerate the opening of the Travel Bubble for low to medium risk countries. To provide opportunities for tourists Businessmen with a vaccine passport enter the country to stimulate the economy.
2. Expedite the government to purchase more vaccines from many sources around the world. To cover all Thai people Foreign workers Foreign businessmen in Thailand And the Food and Drug Administration (FDA) approves vaccines that have been imported to pass the criteria faster.
3. Ask the government to allow the private sector to purchase their own vaccines. To lighten the burden of the government and speed up vaccination This will help the country recover rapidly.
4. Ask the government to focus on accelerating the amendment of laws and regulations that are obstacles in doing business (Regulatory Guillotine) and expedite the establishment of agencies to work with various departments. Of the public and private sectors in the correction By the study, it was found that if Thailand can be resolved quickly It will help to greatly increase the country’s GDP.
We also jointly assessed the situation of the Thai economy in 2021, with the expectation that this year the Thai economy will expand in the 1.5-3.5% range while exports have expanded 3-5% while inflation is in the range of 0.8-1.0%.
In this regard, it is viewed that the Thai economy is likely to gradually improve. After relieving COVID-19 control measures, the number of new infections each day has declined, respectively. And the start of domestic vaccination is a key factor in building confidence among citizens and businesses. In addition, Thai exports excluding gold continued to improve in many products. This reflects the growing demand in the world market.
“The world economy is likely to recover more clearly. And the picture of the situation of the epidemic in the country is getting better. While the authorities began to relax disease control measures With the expectation of rapid vaccination And effective Including government measures that can mitigate the impact of the business sector And groups of people who have been directly affected It will help build confidence, ”said Suphan. As the chairman of the ECS meeting today
The economic recovery in the future depends on 3 main factors:
1) the ability to control the epidemic situation of COVID-19 Which still needs to be watched after the easing of measures
2) rapid and effective vaccination and
3) Remedy for entrepreneurs and workers affected by COVID-19 control measures Including the support of purchasing power in the country
With the world economy clearly beginning to recover Especially the industrial sector The number of new infections around the world, especially major economies, has continued to decline. Moreover, those countries had significantly higher vaccination rates compared to the previous month’s population. Causing many countries to start easing disease control measures As a result, overall economic activity began to improve. As well as various important economic indicators Especially indicators of the manufacturing sector that have clearly improved
“It is still necessary to monitor the situation of the mutant virus. That may affect the number of people infected As well as progress in vaccine deliveries and vaccine passport issues, which will unlock the issue of further international travel.
The commodity prices in the world market accelerated greatly. Including key products in the supply chain that are scarce May affect the Thai industrial production in the next phase. Prices for commodities such as crude oil and copper have soared. In addition, key commodities of many industries such as semiconductors have experienced a shortage and are beginning to affect the major industries involved around the world, such as the automotive industry. Which of these issues May affect the Thai industry this year Both in terms of the increased cost of raw materials And the trend of product orders that will slow down in the troubled supply chain. It is therefore a matter to be monitored in addition to the lack of containers that have not yet been resolved.
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