The Thai economy may fare better than expected, helped by recovering domestic consumption and exports, says the Fiscal Policy Office (FPO).
Kulaya Tantitemit, acting director-general of FPO, said the Thai economy should contract less than the 7.7% the office projected in October because economic conditions are improving, as indicated by the GDP in the third quarter.
Thailand’s GDP contracted by 6.4% year-on-year in the third quarter following a 1.8% decline and a 12.1% contraction in the first and second quarters, respectively. After a seasonal adjustment, the economy expanded by 6.5% quarter-on-quarter in the July-to-September period from the second quarter. In the first nine months, the economy contracted by 6.7%.
The improvement was attributed to the easing of lockdown measures and domestic travel restrictions, coupled with measures to rehabilitate the economy…
