Thai economy expected to contract in 2020, but will recover next year

13 Sept 06:35 Key points summarised by AI

The OECD projects Thailand's economy will sharply contract in 2020 due to COVID-19, but anticipates a bounce back in 2021, albeit slowly, thanks to effective outbreak management.
The report recommends the government strengthen healthcare infrastructure, prepare for potential second waves, and implement programs to up-skill and re-skill vulnerable informal workers, particularly women.
To foster long-term growth, the OECD suggests regularly assessing labor market skill needs, improving education access for the poorest, and easing regulations in the service sector to boost international trade and foreign direct investment.

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.