BANGKOK, July 10 (Xinhua) -- A Thai academic unit in Bangkok reported on Friday that business sentiment in Thailand finally picked up for the first time in 14 months in June, following the easing of the government's lockdown measures.
The University of the Thai Chamber of Commerce (UTCC) released a report indicating that business confidence climbed up to 31.5 in June from 31.3 in May, following readings of 32.1 in April, 37.5 in March, 44.9 in February and 45.4 in January.
The May figure was a 29-month low since January 2018.
"Improving business sentiment stemmed largely from the relaxing of the COVID-19 restrictions and rigid lockdown measures," said Thanawat Phonvichai, director of the UTCC's Centre for Economic and Business.
However, Thanawat said the overall economic prospects remain a concern from the impact of COVID-19, which had largely crippled employment.
Business confidence is likely to increase if the government speeds up disbursement of the social and economic rehabilitation budget in the third quarter, he advised.
The Thai Cabinet meeting had just recently approved a budget allocation of 100 billion baht (3.193 billion U.S. dollars) for the first phase of the 400 billion baht (12.775 billion U.S. dollars) spending plan for social and economic rehabilitation, aimed at strengthening the farming sector and creating more jobs.
The UTCC estimates that spending in the first phase of the rehabilitation budget will help stimulate growth by 0.3 to 0.5 percentage points. Enditem
