Rocked but resilient

After Bangkok was shook by an earthquake on March 28, businesses are scrambling to ensure their continuity plans are adequate and buildings are safe, write Wichit Chantanusornsiri, Komsan Tortermvasana and Kuakul Mornkum

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Many companies believe Thailand’s private sector is well equipped with business continuity plans designed to address various emergencies. However, the Myanmar earthquake on March 28 that shook parts of Thailand served as a reminder that companies cannot let their guard down, as emergency procedures need to be updated and refined to ensure resilience.

STILL MANAGEABLE

Deputy Finance Minister Julapun Amornvivat said the government still has sufficient fiscal space to handle the crisis.

According to Mr Julapun, the government has funds available to stimulate the economy through the digital wallet project, totalling 150 billion baht, which will be gradually disbursed in the near future.

He said the prime minister instructed all agencies to implement measures to respond to earthquakes, aiming to restore public confidence as quickly as possible.

According to data from the Public Debt Management Office, as of February the government’s public debt totalled 64.2% of GDP below the ceiling of 70% of GDP.

Preventive steps for disasters

The government already approved a medium-term fiscal plan for 2026-2028, under which public debt is expected to rise to 69.3% of GDP by 2028.

The objective of this fiscal plan is to continue running a budget deficit to maintain economic stability, while focusing on gradually reducing the deficit to an appropriate level in the medium term.

This approach aims to improve fiscal strength and sustainability under a restorative approach, according to the Finance Ministry. The plan emphasises fiscal policy alignment with monetary policy to sustain economic stability, while strengthening fiscal discipline to bring the deficit back to a normal level.

PREVENTIVE MEASURES