Ex-WTO chief positive Thai economy will improve next year

Mr Supachai Panitchpakdi, former Director General of the World Trade Organization (WTO).

A former chief of the World Trade Organization has expressed an optimistic outlook on the Thai economy, expecting rapid recovery early next year.

Mr Supachai Panitchpakdi, a former Director General of the World Trade Organization (WTO) disclosed today that he expects Thai economic recovery post COVID-19 to take some time, starting in Q3 and Q4 this year, with a better performance expected early next year.

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He said Thailand is considered among countries in the Asian region that have managed the COVID-19 pandemic well, and expected the authorities to be able to control the situation should there be a second wave of infections.

The former WTO chief and national strategy board’s senior adviser said however the economy’s recovery is not able to commence fully just yet due to problems faced around the globe, while the government must provide support to the general public and businesses of all types to prolong their operations, protect society from further damage, as well as provide more help to informal workers, senior citizens, and unregistered persons with disabilities.

According to Mr Supachai, the Thai economy in Q3-Q4 this year will see less shrinkage and improved consumer confidence. He also stressed the importance of international cooperation between all countries in order for the world to recover from this global crisis.

Mr Supachai also denied a claim he has been offered the position of the new Minister of Finance by the Prime Minister. (NNT)