Commerce panel maintains economic growth in minus figures for 2020
The Joint Standing Committee on Commerce, Industry and Banking said it is maintaining its economic growth forecast at between minus 9 per cent and minus 7 per cent, and export forecast at between minus 12 per cent and minus 10 per cent for this year.
The committee said Thailand was still experiencing many uncertainties, which is affecting the confidence of consumers and investors.
Economic indicators in July showed less contraction thanks to higher household spending on travel during long weekends and the easing of lockdown measures. However, the economy remains weak overall, while unemployment has risen to beyond 700,000 in the second quarter.
For the remainder of the year, the economy is leaning towards contraction as some of its main trading partners are experiencing a second wave of Covid-19 infections.
