Measures to Alleviate the Effects of the COVID-19 on the Thai Economy – Phase 3

Royal Thai Government Announcement No. 36/2020, April 2020 – Phase 3 

Mr. Uttama Savanayon, the Minister of Finance, announced that in the past, the government has issued measures to mitigate the impact of the pandemic on individuals  and businesses by facilitating funding, reducing costs and offering other fiscal relief mechanisms. The Coronavirus (COVID-19) pandemic, as the strongest pandemic in the past century, has resulted in significant loss of revenue for businesses and households and a decrease in demand for investment and consumption. It also affects the country’s financial system, owing to the decreased number of foreign tourists that otherwise contribute to GDP, the disruption of the domestic supply chain, and an overall slower movement of the world’s economy.

On 7 April 2020, Cabinet approved the third phase of joint measures to alleviate the direct and indirect effects of the Coronavirus (COVID-19) on the Thai economy. Learn More: https://www.mahanakornpartners.com/measures-to-alleviate-the-effects-of-the-covid-19-on-the-thai-economy-phase-3/