TBA pushes formal economy to the fore

Public policy should also focus on labour

- SOMRUEDI BANCHONGDUANG

The use of public policy to support the economy should primarily focus on the formal economy and Thai labour, according to Payong Srivanich, chairman of the Thai Bankers' Association (TBA).

Speaking at the iBusiness Forum seminar hosted yesterday by the Manager Group, Mr Payong said this approach would help drive economic mechanisms and boost Thai people's income over the next 5-7 years.

Last week, the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) held discussions with the Bank of Thailand (BoT) on economic support through public policy, as heightened uncertainties — particularly due to the US tariffs — are expected to impact both business and household sectors in various ways.