Central bank governor says Thai economy does not need bailout from IMF

14 Sept 02:09 Key points summarised by AI

Thailand's central bank governor asserts the economy is robust, negating the need for an IMF bailout despite potentially having the lowest GDP in Southeast Asia this year.
The economy, heavily reliant on exports and tourism, hit its lowest point in Q2 and is projected for a gradual 'V' shaped recovery by late next year, bolstered by a current account surplus, high international reserves, and low foreign debt.
While acknowledging slow recovery will cause graduate joblessness for 2-3 years, the governor suggests restructuring the economy by empowering rural communities.
The central bank will request an extension for 500 billion baht in soft loans for SMEs until the end of next year and supports targeted debt suspension by financial institutions to cushion impacts.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.