Bangkok (VNA) - Thailand's Joint StandingCommittee on Commerce, Industry and Banking (JSCCIB) predicted that thecountry’seconomy will contract by 7-9 percent this year, although exports couldshrink less than previously projected, because the coronavirus pandemic remainsa risk.
The committee said it stood by its projection of an economiccontraction of 7-9 percent and inflation to fall 1-1.5 percent this year.
However, exports were expected to drop 8-10 percent, insteadof the 10-12 percent forecast earlier, after recent improved shipments.
Southeast Asia's second-largest economy posted its deepestfall in over two decades in the second quarter as the outbreak hammered thetourism and export sectors, which accounted for about 60 percent of GDP lastyear.
Local media quoted Kalin Sarasin, Chairman of the ThaiChamber of Commerce and JSCCIB, as saying that the Thai economy should recoverlater this year thanks to the government’s COVID-19 control and stimulusmeasures.
But the fourth quarter is a challenge as there are new outbreaksin several countries and that could be a problem for exports in future, hesaid.
Thailand’s Ministry of Commerce reported in late Septemberthat the country’s export value improved in August, reaching over 20 billionUSD for the first time in five months./.
The committee said it stood by its projection of an economiccontraction of 7-9 percent and inflation to fall 1-1.5 percent this year.
However, exports were expected to drop 8-10 percent, insteadof the 10-12 percent forecast earlier, after recent improved shipments.
Southeast Asia's second-largest economy posted its deepestfall in over two decades in the second quarter as the outbreak hammered thetourism and export sectors, which accounted for about 60 percent of GDP lastyear.
Local media quoted Kalin Sarasin, Chairman of the ThaiChamber of Commerce and JSCCIB, as saying that the Thai economy should recoverlater this year thanks to the government’s COVID-19 control and stimulusmeasures.
But the fourth quarter is a challenge as there are new outbreaksin several countries and that could be a problem for exports in future, hesaid.
Thailand’s Ministry of Commerce reported in late Septemberthat the country’s export value improved in August, reaching over 20 billionUSD for the first time in five months./.
VNA
