Thai economy should contract less than expected in 2020 - finance minister

[snoop1130]

Thai economy should contract less than expected in 2020 - finance minister

 

FILE PHOTO: Thailand Transport Minister Arkhom Termpittayapaisith speaks during an interview with Reuters in Bangkok, Thailand, June 25, 2018. REUTERS/Panu Wongcha-um

 

BANGKOK (Reuters) - Thailand's economy is expected to contract less than previously expected this year due to a recovery in consumption, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

 

"GDP will be negative this year, but less than expected due to a recovery in consumption," the minister told reporters, noting revenue was coming from exports with foreign tourism still shut and adding that "foreign exchange policy should support exporters".

 

The finance ministry has forecast an economic contraction of 7.7% this year due to the impact of the coronavirus pandemic. Meanwhile, the baht hit 30.19 per U.S. dollar earlier on Wednesday, a 10-month high.

 

-- © Copyright Reuters 2020-11-11

 

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[bluesofa]

This is the size of the one that got away...

[NCC1701A]

4 minutes ago, bluesofa said:

This is the size of the one that got away...

his girlfriend has huge tracks of land.

[Freigeist365]

So, the contraction is only 69% of GDP instead of 70? ???? 

[Grumpy one]

And in late news

Santa will be giving all Thai's 50,000 baht so they can become Christians for a day

[hotchilli]

15 hours ago, snoop1130 said:

"GDP will be negative this year, but less than expected due to a recovery in consumption,"

In other words the hole we're in isn't as deep as we first thought  it might be, but if BOT can help with certain matters exporters can make some headway.

[Caldera]

Less is more... let's wait for the final numbers, who knows at this point!