NESDC revises down 2021 growth outlook
Persisting outbreak crushes optimism
The state planning agency National Economic and Social Development Council (NESDC) has downgraded its economic growth forecast for this year to 2.5-3.5% from 3.5-4.5% made in November, mainly because of a fresh wave of infections.
The downgrade comes despite the latest data showing the economy shrank less than expected in the fourth quarter of last year as a result of expansions in private consumption and government expenditure, following the improvements in investment and exports of goods.
Danucha Pichayanan, the NESDC’s secretary-general, said the new local infections and the disease’s spread abroad remain unabated.
“The downgrade is also based on the Thai economy’s prospects in the first quarter, which are expected to remain affected…
