Thai economy faces 10% permanent loss if Covid recovery delayed: S&P Global Ratings

Southeast Asia now risks a delayed economic recovery that will steepen permanent economic losses, says a new report by S&P Global Ratings. Thailand and other major Asean markets are living with the effects of new Covid-19 waves that appear to have peaked only recently, according to the report, “Delay Risk on the Rise for Southeast Asia’s Recovery”.

“Our baseline estimates still assume emerging Southeast Asia will return to its pre-pandemic level of GDP around August of this year,” said S&P Global Ratings economist Vishrut Rana. “However, delay risks are rising, and a prolonged recovery would drag on the region’s growth rate and lead to higher permanent economic costs.”

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The Nation Reporter