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)
