- Thailand heading towards recession as Covid-19 ravages world economy
Thailand will fall into an economic recession in the first half of this year and the middle- and lower-income groups will be hard hit, an economist has warned
"There is high chance that the country will be in a technical recession -- contraction of the economy for two consecutive quarters," said Anusorn Tamajai, director of Economic and Business Research Centre at Rangsit University.
The Thai economy has been largely impacted by slower growth as the coronavirus has spread globally. The Thai economy in the first quarter -- from January to March -- is expected to contract by 2 per cent year on year. The second quarter will also see negative growth, he warned. The Thai economy last year grew 2.4 per cent for the full year.
Middle-income and lower-income groups are expected to be hit hard as tourism and small business are severely impacted by the Covid-19 outbreak, he said.: https://www.nationthailand.com/busin...ernal_referral
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