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Friday, March 29, 2024

Bank of Thailand sees tourism and service sectors slowest to return to pre-pandemic performance

Chayawadee Chai-Anant pointed out that measures focused on triggering spending, lowering taxes and providing soft loans to SMEs resulted in significant improvement in the economy in February but admitted the tourism and service sectors are still lagging.

BANGKOK – The Bank of Thailand (BoT) is pressing the government to address impact on liquidity from the COVID-19 situation in the business sector, arguing it will speed up economic recovery.

Senior Director of Macro Economics at the BoT Chayawadee Chai-Anant pointed out that measures focused on triggering spending, lowering taxes and providing soft loans to SMEs resulted in significant improvement in the economy in February but admitted the tourism and service sectors are still lagging.

The central bank believes service businesses such as airlines, hotels, restaurants and food and beverage producers will take some time to…

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