Thai economy nearing ‘do it, or die’

In my previous articles, I have suggested the economy is in bad shape, and that at least 2 trillion baht in economic relief packages is needed to prevent the economy from collapsing.

The governor of the Bank of Thailand has just voiced a similar idea by urging the government to borrow an additional 1 trillion baht to boost the economy. He has given four reasons why the economy is in serious need of support.

The Covid-19 outbreak in Thailand has caused 1) massive income losses totalling 2.6 trillion baht from reduced working hours and business interruption; 2) 3.4 million unemployed and under-employed workers, equivalent to 13.4% of the non-agriculture workforce; 3) a K-shape recovery which…