Thai economy in even greater peril due to COVID-19 lockdown

[TheAppletons]

"The research arm of one of Thailand’s leading banks Siam Commercial Bank is predicting that the Thai economy will contract by 7.3% this year with a 12% contraction seen in the second quarter.

 

However, it also sees the contraction of the economy continuing into the third and fourth quarters with concern being expressed for the tourism sector and exports, which they forecast will contract by at least 10.4% for the year."

 

The article (linked below) also postulates that:

 

a.  Tourism will be down 72% this year, even if "travel bubbles" are successfully implemented.

 

b.  6.6 million jobs may be lost.

 

c.  59% of Thai households had only three months' liquidity (prior to the pandemic); 16% of households lived paycheck to paycheck.  

 

d.  Support for the current coalition government has fallen by 50%, to 20.4%.

 

https://www.thaiexaminer.com/thai-news-foreigners/2020/06/07/thai-economy-greater-peril-covid-19-shutdown-political-tensions-heave/

[tribalfusion001]

Yep, looking bleak.