Thailand Braces for Economic Impact After Cambodia Conflict

Thailand faces significant economic challenges following a conflict with Cambodia, with estimated damages exceeding 10 billion baht. The government has allocated an initial 25 billion baht budget for recovery efforts while introducing financial relief measures, including tax deductions and support from state-owned banks to aid affected individuals and businesses.

Thailand is contending with economic repercussions estimated at over 10 billion baht after a five-day border conflict with Cambodia. Finance Minister Pichai Chunhavajira announced an initial 25 billion baht budget to address these impacts and stimulate the economy through construction and repairs.

The government anticipates additional funding might be necessary as the full scope of the damage, including trade disruptions, becomes clear. The finance ministry has unveiled various measures to assist affected citizens and businesses. State-owned banks are providing loan repayment deferrals, low-interest loans, and refinancing options, alongside tax measures such as extended deadlines and deductions for repair costs.

Moreover, Thailand has designated 100 million baht to each affected province to cater to local needs, with provisions to increase this allocation if required. As the nation grapples with these challenges, efforts are underway to mitigate the economic toll and aid recovery.

(With inputs from agencies.)