Thai business groups see GDP contracting 3%-5% this year

BANGKOK - Thailand’s economy may shrink 3%-5% this year, sharply down from growth of 1.5%-2.0% projected in March, as the coronavirus pandemic hits global demand and domestic activity, a group of leading business associations in Thailand said on Thursday.

“Any V-shaped recovery may be difficult as the outbreak is not over yet... tourism might pick up this year,” Supant Mongkolsuthree, Chairman of the Federation of Thai Industries, told a news briefing. That is because the economy is getting support from government economic steps worth billions of dollars to mitigate the virus impact, Supant said.

The government is expected to ease restrictions further later this month, which will be good for the economy, said Kalin Sarasin, Chairman of the Thai Chamber of Commerce.

'En dat alles door Jan Dijkgraaf.' Heb je toch iets bereikt Jan 😉

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Laid-off foreign workers have 60-90 days to get hired or leave - Business InsiderLaid-off H-1B and other temporary foreign workers have weeks to land a new job, or face health risks and closed borders in an attempt to return home It's so sad to know some people get a lot of pressure to become their best when in reality we're still so young and we have so much time to improve and get better, we are a work in progress.”
Source: BusinessInsider - 🏆 729. / 51 Read more »