Thailand
Thailand: Arkhom banking on jabs to boost economy
Finance Minister Arkhom Termpittayapaisith feels upbeat about the country’s economic prospects because of the Covid-19 vaccine roll-out in Thailand, predicting the economy will start picking up in the fourth quarter.
Speaking after getting a shot of the AstraZeneca vaccine, Mr Arkhom said on Tuesday he believes the inoculations will shore up people’s confidence, leading them to travel more in the country.
“After the shot, I still feel well with no side effects and my arm is not sore. It is similar to other vaccinations,” he said.
“Vaccine availability and distribution will benefit the overall economy, and should increase people’s confidence.”
The ministry has been closely monitoring economic indicators and expects the situation to improve despite a lack of fresh economic stimulus measures.
“What’s more important is the export sector has to rev up, taking advantage of the recovering economy to increase shipments as much as possible to help offset tourism income, which remains weak,” said Mr Arkhom.
“The export sector has no virus restrictions, unlike tourism activities.”
If the Centre for Covid-19 Situation Administration (CCSA) gives the nod to relaxing travel restrictions, it is expected to help drive an economic recovery in the fourth quarter, he said.
US President Joe Biden’s $1.9-trillion coronavirus relief package should also benefit Thai exports, said Mr Arkhom.
He said early indications are all airlines’ flights for the Songkran holiday in April are fully booked and the number of people travelling to the provinces for the vacation season is expected to increase, propelling the country’s economy.
Asked whether the government will roll out a fresh business rehabilitation measure or third phase of the co-payment subsidy programme, Mr Arkhom said the situation and economic indicators still require monitoring.
Referring to a report on a cluster of Covid-19 infections in Bang Khae district in western Bangkok, he said the government is likely to apply similar restrictions as were used in Samut Sakhon.
Mr Arkhom believes the Public Health Ministry will be able to contain the infection from spreading.
He said the format for Songkran celebrations and whether water splashing will be allowed hinges on the decision of the CCSA, which is due to meet this Friday.
Source: https://www.bangkokpost.com/business/2084791/arkhom-banking-on-jabs-to-boost-economy