Measures Underway to Alleviate Economic Impact of Russia-Ukraine Conflict

[webfact]

 

by Natthaphon Sangpolsit

    

BANGKOK (NNT) - The impacts of the Russian invasion of Ukraine have reverberated throughout the globe and compounded issues brought on by the pandemic. Thailand is now proceeding with measures in three areas aimed at mitigating the economic repercussions. The measures call for reducing living expenses, mitigating debt burdens, and accelerating large investments that will distribute income across localities.

 

Prime Minister Gen Prayut Chan-o-cha recently called a meeting of his advisors to discuss the measures while acknowledging higher energy costs and prices for certain commodities.

 

Prime ministerial advisors were told to proceed with determining measures under three propositions. Measures under the first proposition relate to reducing people’s expenses, especially for vulnerable groups. These may involve assistance with fuel oil, cooking gas and electricity bills.

 

The second proposition deals with measures to alleviate debt burdens and help people avoid having their assets seized by lenders. The government has designated 2022 as “a year for resolving household debts”.

 

The third proposition calls for investments that will boost Thailand’s competitiveness and increase people’s income. Large public investment projects will be accelerated so money gets injected into various localities.

 

These projects include the EEC, infrastructure for improving connectivity and distributing resources to various regions and locales, and railways for shipping export products.

 

-- © Copyright NNT 2022-03-07

 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

 

[RichardColeman]

The fourth proposition was to double all entry fees, hotel fees, restaurants fees, bar fees, travel fees for all foreigners to claw back even more of economic woes 

[hotchilli]

4 hours ago, webfact said:

The impacts of the Russian invasion of Ukraine have reverberated throughout the globe and compounded issues brought on by the pandemic. Thailand is now proceeding with measures in three areas aimed at mitigating the economic repercussions. The measures call for reducing living expenses, mitigating debt burdens, and accelerating large investments that will distribute income across localities.

Something that should happen on a perpetual basis... not just a knee jerk reaction to a conflict.

[JimHuaHin]

"The measures call for reducing living expenses [how can the poor, starving, homeless and destitute do this?], mitigating debt burdens [reducing advertisements in the Thai media would help], and accelerating large investments that will distribute income across localities [5 5 5, in other words, more tea money for local corrupt government officials]."

[Paul Henry]

Same old, same old. Lots of verbage and cliches No action back on the roundabout. They cannot blame the wet roads so they will blame any world event for their collective failure.

[robertson468]

The Government needs to look at authorizing Humanitarian Visas for both Ukranian and Russians who cannot get back to their Country due to lack of flights to them?

[jacko45k]

1 hour ago, robertson468 said:

The Government needs to look at authorizing Humanitarian Visas for both Ukranian and Russians who cannot get back to their Country due to lack of flights to them?

They will probably be able to get another Covid Extension!

[ourmanflint]

This will directly affect farmers very soon and therefor the rice crop which could be a bigger disaster. A very large proportion of all fertilizer ingredients come from Russia and now that supply has gone.

Fertilizer companies are predicting yield losses of up to 50% globally, including dear old Thailand