Connect with us

Economy

Finance Ministry mulls stimulus packages to boost property sector, consumption

Maya Taylor

Published

 on 

PHOTO: www.thailand-property.com

The new permanent secretary at the Finance Ministry, Krisada Chinavicharana, says officials are considering additional stimulus measures to support Thailand’s property sector and to further boost consumer spending. Krisada says he plans to meet with senior officials to debate more ways to get the economy going again, as the impact of the Covid-19 pandemic continues to make itself felt. He says there are some signs of recovery, with August showing more encouraging economic activity than that of July.

A report in Nation Thailand says the Finance Ministry is now looking at ways to support the country’s property sector. Krisada says high-rise developments, such as condo projects, are particularly suffering, as supply outstrips demand.

The ministry is also considering a reboot of the successful “Eat, Shop, Spend” campaign rolled out twice already this year, aimed at boosting consumption for Thai citizens. The scheme provided shoppers with a subsidy on travel, dining out, and consumer items.

Thailand’s economy is expected to shrink by nearly 10% this year, due to the significant hit taken by its 2 key drivers, exports and the tourism sector.

SOURCE: Nation Thailand

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

3 Comments

3 Comments

  1. Avatar

    EdwardV

    Friday, October 2, 2020 at 9:51 am

    The economy is now going to shrink by 10%, it get worse and worse. So Thailand wants to sell more condos. Who do they expect to buy them. The tourists they won’t let visit anymore, the expats they wish would leave, or the Thais who’s economy is crashing?

  2. Avatar

    Toby Andrews

    Friday, October 2, 2020 at 1:51 pm

    Just let foreigners into the country without the hassle. That might work.
    But then foreigners might just come in and sell up.
    Property prices would sink even lower . . .

  3. Avatar

    Mike Frenchie

    Friday, October 2, 2020 at 8:55 pm

    Tourists/foreigners were buying a very large number of condos (Chinese alone represented 25% of tbe total sold)… tourism and real estate are linked… condo’s completions are at risk (the GDP too)

You must be logged in to post a comment Login

Leave a Reply

A seasoned writer, with a degree in Creative Writing. Over ten years' experience in producing blog and magazine articles, news reports and website content.

Follow Thaiger by email:

Thailand9 hours ago

Thailand News Today | Phuket resort land encroachment case; OnlyFans arrest calls for reform| Sep 27

Thailand11 hours ago

Monday Covid Update: 10,288 new cases; provincial totals

Guides11 hours ago

Local resturants you can’t miss when travelling to Ayutthaya

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Coronavirus (Covid-19)12 hours ago

Thailand reduces quarantine to 7 days for fully vaccinated arrivals from October

World12 hours ago

Australian official suggests borders may re-open by Christmas

Thailand12 hours ago

Gilligan’s Island, Farangs, Grammar and Onlyfans | Thaiger Bites | Ep. 26

image
Join the conversation on the Thaiger Talk forums today!
Guides12 hours ago

Travel hacks for a stress-free holiday in Thailand

Thailand13 hours ago

Consumer complaints hotline targets rip-off shopkeepers

Thailand13 hours ago

Phuket Car rental business says gang rented cars and then sold them off

Guides13 hours ago

A guide to Doi Inthanon National Park

Bangkok13 hours ago

Curfew shortened, Bangkok spas, gyms, cinemas can re-open from October

Tourism13 hours ago

TAT pushes for Indonesia, Malaysia to be added to approved list for Phuket sandbox

World14 hours ago

Powerful earthquake strikes near the Phillippines main island

Guides14 hours ago

Top business and investment opportunities in Thailand

Thailand14 hours ago

OnlyFans arrest sparks calls for reform of prostitution and pornography laws

Thailand2 weeks ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand7 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism7 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket7 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism7 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand7 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism7 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand8 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand8 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand8 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand9 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand9 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand9 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand9 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand9 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending