Thailand's economy may shrink 3%-5% this year, sharply down from growth of 1.5%-2.0% projected in March, as the coronavirus pandemic hits global demand and domestic activity, a group of leading business associations in Thailand said on Thursday.
BANGKOK - Thailand’s economy may shrink 3%-5% this year, sharply down from growth of 1.5%-2.0% projected in March, as the coronavirus pandemic hits global demand and domestic activity, a group of leading business associations in Thailand said on Thursday.
“Any V-shaped recovery may be difficult as the outbreak is not over yet... tourism might pick up this year,” Supant Mongkolsuthree, Chairman of the Federation of Thai Industries, told a news briefing. That is because the economy is getting support from government economic steps worth billions of dollars to mitigate the virus impact, Supant said.
The government is expected to ease restrictions further later this month, which will be good for the economy, said Kalin Sarasin, Chairman of the Thai Chamber of Commerce.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EU predicts region will contract 7.5% this year in worst economic shock since 1930sIn February, the European Commission estimated a 1.4% rise in GDP for the EU this year.
Read more »
COVID Latest Threat to Weakened Rural Health CareMany rural communities were already facing problems of access to health care and greater rates of health care problems. Add the coronavirus pandemic, and America’s rural areas are hurting even more.
Read more »
Stormtrooper trying to get customers' attention taken down by officersA restaurant employee in a “Star Wars” costume was detained in Canada after 911 callers reported seeing someone in a Stormtrooper costume with a gun, police say.
Read more »
Rick Moranis Reveals Which Props He Kept From His FilmsComedian RickMoranis, who left show business almost 30 years ago, is back on TV
Read more »
Laid-off foreign workers have 60-90 days to get hired or leave - Business InsiderLaid-off H-1B and other temporary foreign workers have weeks to land a new job, or face health risks and closed borders in an attempt to return home
Read more »