Selangor Journal
A man wearing a protective face mask walks as the spread of Covid-19 continues, in Chinatown, one of the city’s top tourist spots, in Bangkok, Thailand, March 30, 2020. — Picture by REUTERS

World Bank sees Thai economy shrinking by at least 5 pct this year

BANGKOK, June 30 — Thailand’s economy is expected to be severely impacted by the Covid-19 pandemic, shrinking by at least 5 per cent this year and taking more than two years to return to pre-pandemic GDP output levels, the World Bank said on Tuesday.

In the baseline scenario, the economy is projected to grow by 4.1 per cent in 2021 and by 3.6 per cent in 2022, the agency said in a statement.

An estimated 8.3 million workers will lose employment or income because of the Covid-19 crisis, which has put many jobs at risk, particularly those related to tourism and services, the World Bank said.

— Reuters

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