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Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy
Thailand’s economy will likely contract 8.5% in 2020, worse than previously estimated and the biggest decline of any Asian nation this year.The Finance Ministry’s forecast, released in Bangkok on Thursday, compares with a previous projection of 2.4% growth. The central bank is estimating the economy ...
Economy shrinks for first time since 2014 on virus
The country’s economy contracted in the first quarter for the first time since 2014 as the coronavirus outbreak cut off tourist arrivals and shuttered commerce.Gross domestic product shrank 1.8% from a year ago, the National Economic and Social Development Council (NESDC) said on Monday. That’s ...
Q3 rebound eyed from relief boost
Thai GDP in the first and second quarters of 2020 faces a sharp year-on-year decline due to the global economic slowdown, widespread drought and coronavirus impact.But prospects are expected to improve in the third quarter onwards, boosted by the 1-trillion-baht plan for cash handouts to ...
Bangkok Post Reporter
Business groups see GDP contracting 3%-5% this year
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 said on Thursday.The group also cut its forecast for 2020 exports, a key ...
IMF: Thai GDP down 6.7%
The IMF downgraded the economic forecast for Thailand in 2020 to a contraction of 6.7%, making it the worst performer among its Asean peers if the multinational lender’s projection holds true. The revision is attributed to the economic toll of the coronavirus.Despite this, the IMF ...
Oranan Paweewun
NESDC lowers 2020 economic growth estimate
Thailand’s economy grew by 2.4 per cent in 2019, lower than the previous estimate of 2.6 per cent, the National Economic and Social Development Council (NESDC) said on Monday (February 17).The NESDC said gross domestic product in the fourth quarter of 2019 expanded by 1.6 ...
The Nation Reporter
'Moderate' virus impact on Thai GDP
The novel coronavirus could lower Thailand’s nominal GDP by 0.09-0.13% if the outbreak lasts longer than three months but less than six months, says Kasikorn Research Center (K-Research).“For Thailand, the impact is moderate,” the research house under Kasikornbank said in a note. Economic damage could ...
Thai GDP growth forecast for the year slashed
The Joint Standing Committee on Commerce, Industry and Banking has revised downward the country’s gross domestic product (GDP) growth this year to between 2 per cent and 2.5 per cent from the previously forecast 2.5 to 3 per cent.The revision is in line with the ...
The Nation Reporter
GDP growth lagging behind expectations this year and last
The Finance Ministry has dropped its estimate of 2019 growth in gross domestic product (GDP) from 2.8 to 2.5 per cent and its forecast for 2020 from 3.3 to 2.8 per cent.“The economy in 2019 is now estimated to have grown by 2.5 per cent ...
The Nation Reporter
Thai GDP growth forecast for 2019 slashed further
Kasikorn Research Centre has revised downward its gross domestic product (GDP) forecast for 2019 to 2.5 per cent and projected that the Thai economy may grow 2.7 per cent in 2020.The centre revealed the forecast at its seminar on “Business Outlook amid Numerous Challenges in ...
The Nation Reporter