A tuk-tuk drives down Khao San Road, a once-popular tourist strip in Bangkok, Thailand, Feb. 15, 2021, as the country records it worst economic performance in more than two decades. AFP
Thailand’s economy suffered its worst full-year performance in more than two decades, data showed on February 15, with officials citing the toll of a gutted tourism industry and ongoing political upheaval.
Last year’s 6.1 per cent contraction was the worst since a 7.6 per cent decline during the Asian financial crisis in 1997 and officials downgraded their 2021 growth forecast to 2.5-3.5 from a previous estimate of 3.5-4.5 per cent – despite a slight improvement in the fourth quarter.
“It has rebounded from the previous quarter due to the government’s stimulus package that boosted spending,” Office of the National Economic and Social Development Council (NESDC) secretary-general Danucha…
