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Thai economy sees biggest contraction in more than 20 years

The Thai economy contracted the most in more than two decades due to impact of the COVID-19 pandemic.
Thai economy sees biggest contraction in more than 20 years ảnh 1An empty airport in Thailand. The country's tourism sector is hard hit by COVID-19 pandemic (Source: AFP/VNA) 

Bangkok (VNA) – The Thai economy contracted the most in more thantwo decades due to impact of the COVID-19 pandemic.

The National Economicand Social Development Council announced on August 17 that the country’s GDPdropped by 12.2 percent from a year ago – the biggest decline since the Asianfinancial crisis in 1998.

The figure, however,is lower than an estimate of a 13 percent contraction in a Bloomberg survey ofeconomists.

The second-quarter unemploymentrate was at 1.95 percent, and an additional 1.8 million workers may be at riskof losing their jobs.

Thailand has to datereported 3,377 COVID-19 cases, including 58 fatalities. The country has resumedeconomic activities since August 13./.
VNA
#COVID-19 #Thai economy #more than two decades #National Economic and Social Development Council #GDP #biggest contraction #Vietnam #Vietnamplus #Vietnam News Agency Thailand
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