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1 Dec 2022

Econ Digest

Thai business debtors recover from the COVID 19 pandemic, but the micro and super micro businesses still need to be accommodated


        A study and assessment on business accounts with outstanding debt conducted by the National Credit Bureau (NCB) shows that the recovery of the micro and super micro businesses remains fragile despite the fact that the COVID-19 crisis has subsided, and the economy is on the path towards recovery. As bleak prospects are seen in the wholesale and retail trade, repair of motor vehicles and motorcycles, construction, manufacturing, transportation and storage industries, the likely impact is that the micro and super micro businesses will continue to face a liquidity squeeze even after the COVID-19 crisis.

        As the overall business sector is facing challenges of rising operating costs, KResearch Center believes that close attention must be paid to the asset quality of the micro and super micro businesses, especially after the expiration of various government assistance measures, leaving only measures for debt restructuring programs in accordance with the policies of various financial institutions. Additionally, due to the slow economic recovery after the COVID-19 outbreak, the micro and super micro businesses still face structural issues, intense competition from medium and large businesses, as well as eroding purchasing power of households caused by hefty household debts; moreover, their ability to adapt is restricted by insufficient knowhow, limited access to new funding sources and digital technologies. Given the number of these businesses and their importance to the grassroots economy, all of above factors present challenges for the relevant agencies in offering assistance to ensure that these businesses can be sustained in the long-term.

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