Economics
Thai Central Bank Sees Virus Wave, Household Debt Biting Growth
- Bank of Thailand may lower 2021 GDP forecast of 3.2%: official
- Prolonged virus curbs may cause liquidity woes, unemployment
Social distancing markers at the Trimurti Shrine next to Central World Mall in Bangkok.
Photographer: Andre Malerba/BloombergThis article is for subscribers only.
Thailand’s central bank expects new restrictions imposed to contain the country’s biggest wave of coronavirus infections to slow economic recovery this year.
The Bank of Thailand may lower its forecast for economic growth -- currently at 3.2% for this year -- as curbs on business and travel chill activity in areas that account for 75% of gross domestic product, Senior Director Chayawadee Chai-Anant said at a briefing Friday. A prolonged outbreak could also trigger liquidity problems for businesses and put millions of jobs at risk, she said.