BANGKOK: Thailand will likely be the worst economic performer in South-East Asia this year, with economists continuing to slash the country’s growth forecast amid surging Covid-19 infections, mounting political tensions and fading hopes for a tourism revival.
The Finance Ministry yesterday cut its 2021 gross domestic product (GDP) forecast to 1.3% growth, from the 2.3% it expected in April. With new Covid infections and deaths continually breaking records since the latest surge began in April, some economists are flagging the possibility of a technical recession in the second half of the year – or even a second straight annual contraction, something the country hasn’t seen since the Asian Financial Crisis more than two decades ago.
According to the latest weighted average of 36 economists…
