Thailand raises public debt ceiling to recover economy
Thailand has increased the ceiling of its public debt-to-gross domestic product (GDP) ratio to 70 percent from 60 percent, allowing the government to raise more funds to help a struggling economy.
Bangkok (VNA) - Thailand hasincreased the ceiling of its public debt-to-gross domestic product (GDP)ratio to 70 percent from 60 percent, allowing the government to raise more funds to help a struggling economy.
The decision was made by the State Monetary and Fiscal Policy Committee chaired by Prime Minister Prayut Chan-o-cha on September 20.
The Southeast Asian country is dealing with its biggest COVID-19outbreak to date and stricter containment measures have hit economic activities although some have been eased from this month.
Last year, the government issued its first emergency loan decree last year to authorise it to borrow 1 trillion THB to fund its stimulus schemes to combat the pandemic. A second decree was issued this year to allow the government to borrow an additional 500 billion THB.
Last month, Bank of Thailand Governor Sethaput Suthiwartnarueput saidthe country would need a further 1 trillion THB in fiscal measures to helpcushion losses in jobs and income.
The finance ministry has forecast Southeast Asia's second-largesteconomy will grow 1.3 percent this year, while the central bank has predicted a 0.7 percent growth rate.
Last year, the economy contracted 6.1 percent, the deepest fall in more thantwo decades.
Meanwhile, Director General of the Fiscal Policy Office (FPO) KulayaTantitemit said that the Thai Ministry of Finance will inject more money intothe economic system in the fourth quarter of 2021 to further improve theweakening economy amid the prolonged COVID-19 pandemic./.
The Thai Customs Department is preparing to reduce import duty on alcoholic beverages and cigars by 50 percent for five years in line with the government's economic stimulus and investment promotion package.
Doctors in Thailand have been given the go-ahead to start giving COVID-19 vaccine booster shots under the skin, rather than injecting them into muscles, in an effort to strengthen immunity and stretch vaccine supplies.
The Rail Transport Department of Thailand has unveiled a plan to develop areas in Nong Khai to prepare for rail connection with Laos as Thailand gears up for more trade with China along the line connecting the three countries.
As vaccination drives are being stepped up, Southeast Asian nations are gradually loosening anti-pandemic measures, including resuming tourism activities.
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International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
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The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
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Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
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Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
Illustrative image (Photo: AFP/VNA) 
