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Cambodia: Minister of Tourism says virus will be as bad, if not worse, than SARs was for industry

Minister of Tourism, Thong Khon, has drawn comparisons between the current COVID-19 outbreak to the Severe Acute Respiratory Syndrome (SARs) pandemic that occurred in 2003 and devastated the tourism industry in Asia. “Cambodia experienced a dramatic decline in foreign tourist arrivals during the 2003 SARs outbreak and we are seeing a similar reaction with the […]

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Indonesia: COVID-19 impact far more complex than 2008 crisis: Sri Mulyani

As the government prepares a second fiscal stimulus package to support the economy, Finance Minister Sri Mulyani Indrawati warns that the economic impacts of the COVID-19 coronavirus outbreak will be far more complicated than that of the 2008 financial crisis. Driven by the United States subprime mortgage debacle, the 2008 financial crisis mostly affected financial institutions, banks […]

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Thailand: Virus seen denting tax revenues as well

The Revenue Department could lower its tax revenue target for fiscal 2020 because business has been stunted by the Covid-19 outbreak, spokeswoman Sommai Siriudomset said on Friday (March 6). The target is currently Bt2.116 trillion, she said, but many state economic agencies have lowered growth forecasts for gross domestic product in 2020. To ease taxpayers’ […]

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Thailand: A viral wake-up call

Managing a virus epidemic can be a daunting task for any administration, but inefficiency by the government for its perceived failure to contain the coronavirus outbreak in Thailand has drawn waves of criticism both online and offline. From information transparency to a slow response on urgent issues, the latest conflicting statements on quarantine requirements is […]

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