Thailand says Covid-19 resurgence to cut GDP by 0.8-2.0% in 2021, Economy News & Top Stories

BANGKOK (REUTERS) – The latest coronavirus wave to hit Thailand is expected to reduce gross domestic product by 0.8-2.0 per cent this year, Thailand’s central bank said on Thursday (July 22), as the South-east Asian country tackles its biggest outbreak of the virus to date.

The current Covid-19 wave has seen daily record infections, which the Bank of Thailand (BOT) said had became more severe and prolonged than previously expected.

Stricter containment measures have caused economic activity to plummet to levels close to those reached during a 2020 lockdown and is likely to fall further, senior director Chayawadee Chai-Anant told a briefing.

GDP could drop by as much as 2.0 per cent if the current curbs do not reduce infections and the outbreak drags on throughout the year,” she said, adding a base case was for a 1.2 per cent GDP fall.

“That’s only an impact on GDP. But there could…