S. Thai Retailers Points out that Covid affects the retail and service sectors, losing 800 billion people, 3.2 million unemployed, making a plan “7S Recovery”, offering the state to speed up the country’s recovery Hope to awaken the Thai economy in the first curve of ’65 to recover 1.5 trillion baht
Mr. Yon Phokasub, president of the Thai Retailers Association, revealed that Thailand is one of the countries in the ASEAN region with the lowest economic growth. After the impact of the COVID-19 outbreak
This resulted in the loss of more than 800 billion baht in retail and services, resulting in an increase of approximately 3.2 million unemployed and quasi-employed people (those who work less than 4 hours a day) and informal workers.
Corporate and household debt rose to record highs. And there’s also a deep and wide economic scar. Compared to other countries affected by COVID
Therefore, the government has to accelerate to push for a speedy recovery. From the present, the GDP continues to be negative. by planning strategies and supporting plans to accelerate economic recovery in the short term And in the long term, the approach of recovery should start from stimulating private consumption to laying a solid and sustainable economic foundation.
Recently, the association presents a “7S Recovery” approach to urgently restore the Thai economy through 7 main points as follows: 1.stimulus consumption.
But it must be a revival to get up and move forward with the business. The first step must be the government’s duty to inject money into the system quickly, exactly as intended to stimulate domestic spending.
whether it is to encourage Thai people to travel to Thailand using Thai products at the end of this year, continuing until the first quarter of next year (Nov. 64-June 65), increasing the project budget by half and the more you can use
including bringing back the Shop Dee Mee project by increasing the limit to 2 hundred thousand baht from Dec. 64-Feb. 65 and the government must have a policy to reduce household expenses. To increase the purchasing power of consumers from Dec. 64-June 65
Overall, the first S will be able to generate cash flow into the economy. From now until June 65, not less than 1.5 trillion baht, or about 10% of GDP.
2.support employment, the epidemic of COVID Affects employment, especially in the trade and services sector, which employs more than 11.2 million people and most of them are informal workers.
It is expected that workers in this group will be unemployed and those who are unemployed. (Those who work less than 4 hours a day) not less than 3.2 million people, the government must have a policy Both measures to maintain employment Reduce costs with tax measures, hourly employment trials. This is especially applicable to retail and restaurant businesses. and enhancing labor skills
3.strengthen SMEs According to OSMEP’s data, it was found that the number of SMEs across the country was over 3,070,177, of which 44.58% were in the retail sector and 35.73% were in the service sector. Food and beverages, the government urgently needs to provide funding to help businesses survive access to funding.
In addition, there should be measures to suspend debt for SMEs who have been severely affected. in order for the business to recover quickly and be stable again.
4.speed up digital economy The government must have a policy to reduce regulations and develop cloud computing, AI and data center systems to be ready for the digital economy that will be the heart of driving the economy more. The government and the private sector must work together to create a positive circuit in the use of digital technology for those who may not be familiar with the online world. Because digital skills are the most important thing right now.
and reduce business opportunity costs by up to 130 billion baht per year or 0.8% of Thai GDP
6.sustainable public health Both monitoring, controlling and careful close covid epidemic Consideration of lockdowns in the epidemic zone without the need for a nationwide lockdown. Accelerate vaccination to complete 2 doses, at least 70% of the people and campaign to stay healthy. Citizens must not fall.
7. spike up private investment The government sector must continuously support private investment. Because it will cause more production and employment. This will help people’s consumption to expand immediately. and will lead to sustainable growth of the Thai economy
However, the association saw this as a turning point. It’s the last curve of the covid crisis. and is the first curve of new hopes for the Thai economy Therefore, the current economic recovery must look beyond the future shot.
rather than relying on remedies alone All parties must work together to drive the economy through strong strategies. Take action seriously and immediately learn to live with covid carelessly. on the basis of safety measures Ready to open the country to welcome everyone without worry.