BANGKOK, June 10 (TNA) – The Thai economy is projected to contract by 8.9 percent this year despite the easing of COVID-19 measures, says an economist.
Amonthep Chawla, Head of the Research Office at CIMB THAI Bank (CIMBT), said that although Thailand was heading towards the fourth phase of lockdown easing, with more businesses to be reopened, the Thai economy was still far from showing signs of recovery.
“Productivity, confidence and consumer spending will remain low in the period ahead”, he said.
Amonthep noted that the impacts of the COVID-19 on the Thai economy would be most evident in the second quarter, with expected 14-percent GDP contraction.
Thailand’s economic outlook for the second half of this year was brighter but the GDP could contract by 10 percent.
Key factors for the Thai economy were the risk of a second wave of coronavirus infection and oil prices, he added. (TNA)
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