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Economic think tank says shopping stimulus will only help in the short-term

Maya Taylor

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Economic think tank says shopping stimulus will only help in the short-term | The Thaiger
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The research division of Kasikorn Bank says while the government’s planned shopping stimulus has its advantages, the benefits will only be short-term. The Kasikorn Research Centre points out that the scheme, which it’s hoped will run from October 23 to December 31, will only provide a temporary boost to the economy.

The stimulus measure, which is being put to the Cabinet on Monday, will offer shoppers a co-payment of 3,000 baht each, with a maximum daily payment of 150 baht. The payment is intended to subsidise consumer purchases, with the exception of lottery tickets, flight and accommodation bookings, alcohol and tobacco.

Nation Thailand reports that, according to the Kasikorn Research Centre, a take-up by 1.85 million consumers should generate around 55.5 billion baht for the economy. Should the number of consumers rise to 4 million, the figure would be more than twice that, at 120 billion baht.

The centre also says that without the scheme, total credit card payment for 2020 is expected to decrease by 12%. If the scheme is successful, that should improve to 11%. Retailers are expected to benefit the most, with the scheme also expected to boost the sale of items currently experiencing a fall in demand due to the current economic crisis.

However, the centre points out that the stimulus package is only a short-term solution, adding that most retailers who will benefit will be large corporations and not small businesses. It will also not be worth while for production lines to resume full scale operations, as any increase in demand for consumer products will only last for the 2 months the scheme is in operation.

SOURCE: Nation Thailand

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8 Comments

8 Comments

  1. Avatar

    Toby Andrews

    October 9, 2020 at 11:41 am

    But only for Thais Right?
    The retailors will just put up the prices because the buyers are given discounts.

  2. Avatar

    Issan John

    October 9, 2020 at 12:54 pm

    “But only for Thais Right”?

    God Almighty, this is Thailand!

    Of course it’s “only for Thais”.

    The idea that “retailors will just put up the prices because the buyers are given discounts” is so patently stupid that even I can’t be bothered to comment further.

    • Avatar

      Noneya Bidnizz

      October 13, 2020 at 3:37 am

      Please DO NOT comment further .

      Your comments only show your ignorance , xenophobia and outright racism .

      Mung Bpen Kwaii !!!

  3. Avatar

    Glenn

    October 9, 2020 at 2:23 pm

    DUH

    • Avatar

      Toby Andrews

      October 9, 2020 at 5:40 pm

      It is just another case of dual pricing.
      The Thais pay less. They have discount – the foreigner pays more.
      Ever been to one of these Thai stores that allow 7 percent back at the airport for the departing foreigner?
      No, I doubt you have. If you did you would see the prices are inflated because the buyer receives a discount.
      Yes, don’t bother commenting further. All you write s puerile none sense

      • Avatar

        Geoff

        October 10, 2020 at 7:56 am

        You expect the Thai government to support foreigners with financial help? Seriously! LOL. The stimulus package allows Thais to buy basic commodities – most of which no-longer have the means to do so. Better you keep your ‘puerile nonsense (one word) to yourself!

  4. Avatar

    ron

    October 11, 2020 at 2:33 am

    Why doesn’t the foolish government stop with the nonsense and open up the economy?

  5. Avatar

    west tiger

    October 11, 2020 at 1:13 pm

    The two things that could save the Thai economy the Government ignores, and that is make it easier for Farang tourists to return and reduce the value of the Baht

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Coronavirus (Covid-19)

10 new Covid-19 cases in quarantine, many on flights with other confirmed cases

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10 new Covid-19 cases in quarantine, many on flights with other confirmed cases | The Thaiger

10 new Covid-19 cases were detected in quarantine and many flew in on flights with previously confirmed cases, according to the Centre for Covid-19 Situation Administration. Thailand’s total number of confirmed cases is now at 3,719 with 3,514 recoveries and 59 deaths. 146 people are currently receiving medical treatment for Covid-19.

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Coronavirus (Covid-19)

AstraZeneca Covid-19 vaccine trial volunteer dies

Caitlin Ashworth

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AstraZeneca Covid-19 vaccine trial volunteer dies | The Thaiger

A volunteer for a Covid-19 vaccine clinical trial in Brazil has died. But he never actually received the experimental vaccine, although he was involved in the trial groups. He did, however, die of Covid-19.

But trials on the vaccine, being developed by Oxford University and the pharmaceutical company AstraZeneca, are set to continue. The university says “there have been no concerns about safety of the clinical trial.” The vaccine is also planned to be produced in Thailand and be available to the Thai population by the first half of 2021.

The 28 year old volunteer from Rio de Janeiro died from Covid-19 complications, according to CNN Brasil. He was apparently never injected with the experimental vaccine. If the volunteer had been given the Covid-19 vaccine and died, the trial would have been suspended, a source told Reuters, adding that the volunteer may have been part of the control group.

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The company Siam Bioscience will manufacture the vaccine in Thailand and provide injections for the Thai populations as well as the neighbouring countries Indonesia, Singapore, Malaysia, Philippines, Vietnam, Brunei, Cambodia, Myanmar and Laos.

SOURCE: Thai PBS

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China ban on inbound, outbound tour groups to continue

Maya Taylor

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China ban on inbound, outbound tour groups to continue | The Thaiger
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SOURCE: Bangkok Post

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