KResearch sees 2.6% growth if there are no new Covid waves
Kasikorn Research Centre (KResearch) expects a 2.6 per cent growth in the Thai economy provided there is no new wave of Covid-19 infections and the country can reopen by the fourth quarter of this year.
KResearch said Thailand’s economy in 2020 fell by 6.1 per cent year-on-year, which was less than the 6.7-per-cent drop expected by the centre. This was thanks to the government’s stimulus measures, especially the “Khon La Khrueng” (Let’s Go Halves) scheme, which expanded spending by up to 0.3 per cent.
“Recovery of the global economy has also helped Thailand’s fourth-quarter exports to contract less than the centre’s expectation of 2 per cent,” the report said.
It added that the Covid-19 vaccine was still key to reopening the country in the second half of this year.
“Based on the current situation, the number of vaccines in Thailand may not be enough to reopen the country within this year, so it is necessary to address government measures to mitigate the Covid-19 impact on the economy, especially measures to support the tourism sector,” the centre added.