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Thailand' reopening plan expected to aid economic growth

Thailand’s plan to fully reopen the country within 120 days would support economic growth of 2.3 percent this year as forecast by the Fiscal Policy Office (FPO), said the office's director-general Kulaya Tantitemit.
Thailand' reopening plan expected to aid economic growth ảnh 1At a shopping mall in Bangkok, Thailand (Photo: VNA)

Bangkok (VNA) – Thailand’s plan to fully reopen thecountry within 120 days would support economic growth of 2.3 percent this yearas forecast by the Fiscal Policy Office (FPO), said the office'sdirector-general Kulaya Tantitemit.

Thai Prime Minister Prayut Chan-o-cha said on June 17 thatthe nation will fully reopen by mid-October, with all businesses able to resumenormal operations and visitors free to travel across the country. Roughly 50million people will have received at least one COVID-19 vaccine jab by then.

Kulaya said the 120-day target falls in the fourth quarter,in line with the FPO's forecast made in April that foreign arrivals will returnto Thailand in greater numbers during this period.

The FPO predicted if the country can fully reopen this year,Thailand will record around 2 million foreign arrivals, of which 190,000 areexpected to arrive in the third quarter and another 1.7 million in the fourthquarter.

Thailand's economy has struggled because of the severeimpact of the pandemic. In April, the FPO reduced its economic growth forecastfor 2021 to 2.3 percent, down from 2.8 percent in January, primarily due to thethird wave that began in April.

Meanwhile, the Federation of Thai Industries (FTI) said thereopening target will help improve business confidence, even if there is a riskof more COVID-19 infections.

A full reopening of the country will boost the economy, saidFTI vice-chairman Kriengkrai Thiennukul, adding that the tourism sector andrelated businesses such as restaurants, spas and factories that supply productsto these businesses will recover./.
VNA
#COVID-19 #reopening plan #economic growth #Fiscal Policy Office #Kulaya Tantitemit #Prayut Chan-o-cha #Vietnam News Agency #vietnamplus Thailand
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