B1.68tn to blunt Covid-19 : Stimulus to avert a repeat of 1997 crisis. The government has unveiled a fresh stimulus package worth 1.68 trillion baht, with plans to issue a set of executive decrees to implement the measure to cushion the blow from the coronavirus outbreak. Bangkok Post
First outbreak subsidies due this week : The first batch of eligible registrants for a 5,000-baht cash subsidy will receive the money tomorrow, according to a Finance Ministry spokesman. Bangkok Post
Research houses concur on heavy toll : Forecasts for full-year economic contraction range from 4.8% to 5.6%. The Thai economy is forecast to shrink by 4.8% by Asian Development Bank (ADB), 5.6% by Siam Commercial Bank’s Economic Intelligence Center (EIC) and 5% by Standard Chartered Bank (Thai), heading for its deepest contraction since the financial meltdown of 1998. Bangkok Post
Fitch sours on IDR for KBank, BBL, SCB : Fitch Ratings has downgraded the long-term issuer default rating (IDR) for Kasikornbank (KBank), Bangkok Bank (BBL) and Siam Commercial Bank (SCB) to BBB from BBB+ after revising the operating environment mid-point score for Thai banks to bbb from bbb+. Bangkok Post
BoT schemes to cover 1.7m SMEs : Fund aims to stabilise corporate bond firms. About 1.7 million small and mediumsized enterprises (SMEs) with total loans outstanding of 2.4 trillion baht are eligible to participate in the Bank of Thailand’s six-month deferment period on principal and interest and a 500- billion-baht soft loan scheme, says the central bank’s chief. Bangkok Post
CCSA defends tests : Fall in cases spurs screening doubts. Thailand has defended its coronavirus testing procedure, saying it is effective even if the country adopts selective screening rather than focuses on the quantity of tests. Bangkok Post
JSCCIB: Jobless totals headed to 7m by June : Low-paid workers likely to bear brunt. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) predicts that 7 million workers will be out of a job by June because of shutdowns from the pandemic. Bangkok Post
Minimum wage waiver floated to sustain SMEs : The government is being advised to waive the daily minimum wage requirement for six months to help entrepreneurs maintain employment during the pandemic. Bangkok Post
Revenue down 40% in Q1 as arrivals dry up amid outbreak : The Tourism and Sports Ministry has released first-quarter tourism revenue figures, reporting a decrease of nearly 40% to 335 billion baht, or 222 billion baht shy of the year-earlier level. Bangkok Post
Relief sought for 15,000 operators on verge of collapse : Tour operators are urging the government to help 15,000 tour operators at risk of collapse due to stagnant cash flow. Bangkok Post
