Thailand has room for further monetary easing to support its economic recovery, which is expected to be slow, uneven and clouded by the unknown path of the coronavirus pandemic, the International Monetary Fund (IMF) said.
The tourism-reliant economy contracted 6.1% last year, its deepest slump in over two decades, with tourism devastated by the impact of the pandemic.
The Thai economy is expected to expand by 2.6% in 2021, led by a gradual recovery in domestic demand and goods exports, the IMF said in a statement on Thursday after its executive board completed its review of Southeast Asia’s second-largest economy.
The drag on tourism is expected to continue for most of 2021 due to uncertainty around vaccine rollouts and full resumption of global travel, it…
