Thai finance minister gives reassurance on economy

Despite the unfavourable climate, Thailand’s economic fundamentals remain solid on both the internal and external fronts, making Thailand one of the most resilient economies in the region, Finance Minister Predee Daochai told a business seminar.

BANGKOK: Thailand’s economic fundamentals and fiscal position remain strong, the finance minister said yesterday, despite the fallout of the coronavirus pandemic on the tourism-reliant country.

South-East Asia’s second-largest economy shrank 12.2% in the second quarter from a year earlier, the sharpest drop since the 1998 Asian financial crisis.