Thailand keeps key interest rate unchanged, lowers 2021 economic outlook
Thailand’s central bank on June 23 decided to keep key rate unchanged at record low 0.5 percent and cut 2021 economic growth forecast following the complicated development of COVID-19 in the country.
People wear masks to prevent the spread of COVID-19 in Thailand. (Photo: Xinhua/VNA)Bangkok (VNA) - Thailand’s central bank on June 23 decided to keep key rate unchanged at record
low 0.5 percent and cut 2021 economic growth forecast following the
complicated development of COVID-19 in the country.
Assistant Governor of the Bank of Thailand (BoT) Titanun Mallikamas said the COVID-19 inoculation drive is the key to recover the economy.
The BoT now expects Southeast Asia’s second largest economy to grow 1.8 percent this year, down from a previous forecast for 3.0 percent.
Prime Minister Prayut Chan-o-cha this week moved to allow more social activity in the capital, even as COVID-19 related fatalities rose to a record on June 23, which took total deaths to 1,744, since the pandemic began last year. As of June 21, about 11 percent of the population had received at least a first dose of anti-COVID-19 vaccine.
Thailand’s urgency in reopening stems from its dependence on tourism, which contributed about one-fifth of economic output before the pandemic. The Cabinet on June 22 gave final approval for the Phuket “sandbox,” which will allow quarantine-free travel for vaccinated visitors to the popular tourist island from July 1./.
Assistant Governor of the Bank of Thailand (BoT) Titanun Mallikamas said the COVID-19 inoculation drive is the key to recover the economy.
The BoT now expects Southeast Asia’s second largest economy to grow 1.8 percent this year, down from a previous forecast for 3.0 percent.
Prime Minister Prayut Chan-o-cha this week moved to allow more social activity in the capital, even as COVID-19 related fatalities rose to a record on June 23, which took total deaths to 1,744, since the pandemic began last year. As of June 21, about 11 percent of the population had received at least a first dose of anti-COVID-19 vaccine.
Thailand’s urgency in reopening stems from its dependence on tourism, which contributed about one-fifth of economic output before the pandemic. The Cabinet on June 22 gave final approval for the Phuket “sandbox,” which will allow quarantine-free travel for vaccinated visitors to the popular tourist island from July 1./.
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