The global Covid-19 pandemic, combined with a fragile labour market, pose as pertaining risks for the economic recovery in 2021, says the Bank of Thailand.
The biggest risks are the recent virus upsurge, stricter lockdown measures overseas and continued weakness in the domestic labour market, said Chayawadee Chai-Anant, senior director of the economic and policy department.
The scale of domestic infections and the effectiveness of the government’s measures to mitigate virus contagion will have to be assessed before the impact on Thailand’s economic recovery can be fully seen, said Ms Chayawadee.
Despite a new round of domestic Covid-19 outbreak, a double-dip recession is not expected to transpire in the final quarter as the Thai economy has seen a recovery for the most part, she said.
A double-dip recession is when a recession…
