Retail association touts recovery strategies

Proposes targeted fiscal stimulus

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The Thai Retailers Association has recommended two strategies to accelerate economic recovery amid the prolonged global economic slowdown and rising uncertainties.

Nath Vongphanich, president of the association, said in the first half of the year the retail sector had been under pressure from all directions, including political uncertainty, subdued consumption, declining investment and external factors such as the slow recovery of international tourism.

He added that the US's new tariff policy, which is currently imposing tariffs as high as 36% on Thai products, is a key concern.

Mr Nath said the private sector is closely monitoring the government's rollout of effective economic policies and is calling for tangible recovery measures in the second half of the year.

The association recommended two key strategies to support economic recovery during this critical period.

The first strategy calls for targeted fiscal stimulus to reinvigorate spending nationwide.

The initial 115 billion baht from the total budget of 157 billion baht should be swiftly implemented, with a focus on community-based projects, tourism and infrastructure.

He said in tourism, urgent safety improvements are essential.