Think tank cuts Thailand's 2021 growth forecast as Covid-19 infections surge


A volunteer from the Zendai organization speaks to a family in home isolation in a Covid-19 stricken community in Nong Chok district in the outskirts of Bangkok on Monday, July 26, 2021, as hospital beds for infected patients remain scarce across the nation. - AFP

BANGKOK, July 26 (Xinhua): Thailand's Kasikorn Research Centre, a think tank, has lowered its forecast for the country's economic growth this year to 1 per cent from a previous estimate of 1.8 per cent as a prolonged wave of the outbreak dampened growth outlook.

Due to limitations of the Thai public health system, more stringent Covid-19 containment measures have been implemented, which would further affect the business sector and employment and in turn the purchasing power and confidence of consumers, the research center said.

The emergence of new Covid-19 variants and rapid increases in infections in many countries, including Thailand, have led the research center to cut its 2021 forecast for the number of international tourist arrivals to between 250,000 and 650,000, from a prior projection of up to 1.2 million.

On Monday, Thailand reported 15,376 new Covid-19 cases, a record daily tally for the second day in a row, taking the total number of infections to 512,678. Cumulative deaths rose to 4,146, up by 87 during the last 24 hours.

The worsening situation has been overwhelming the country's medical system and prompted the government to tighten restrictions, including the closure of shopping centers, a night-time curfew and curbing travels in worst-hit regions.

If the pandemic persists, the research center expected the Thai government to introduce additional relief measures to boost economic growth.

The research center said the global economy is set to recover faster than expected, which would lift Thailand's exports. It projected the country's exports to grow 11.5 percent from one year earlier in 2021.

Thailand's economy plunged 6.1 per cent year on year in 2020, its worst performance in more than two decades. - Xinhua

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Aseanplus News

Number of Hong Kong private and semi-private schools increasing tuition fees nearly doubles
EU unveils Indo-Pacific strategy, and admits US’ new ‘Aukus’ alliance came as a surprise
Evergrande says six execs redeemed investment products in advance
JKJAV: 238,002 Covid-19 vaccine jabs given on Friday (Sept 17)
Asean News Headlines at 10pm on Friday (Sept 17)
Singapore: 934 locally transmitted Covid-19 cases in country, highest since April last year - only one imported case on Friday (Sept 17)
Indonesia to reopen Bali for international visitors in October as govt announces 3,835 new Covid-19 cases on Friday (Sept 17)
Thailand govt eyes wider opening of economy as it reports 14,555 new Covid-19 cases on Friday (Sept 17)
Philippines take more virus measures as country logs 20,336 new Covid-19 cases and total rises to 2,324,475
Vietnam reports 11,521 new Covid-19 cases, 667,650 in total - Ho Chi Minh City still highest with 5,972 infections

Stories You'll Enjoy


Vouchers