BoT to Assess Impact of New Round of Covid-19 Infections

[webfact]

 

By Subhabhong Rarueysong

   

BANGKOK (NNT) - The Bank of Thailand (BoT) needs to monitor on the fresh wave of Covid-19 situation, specifically the stringency of the government’s additional measures, as well as people’s consumption behavior in order to assess the impact of the new round of infections.

 

BoT deputy governor Mathee Supapongse said even though the government has allowed cross-provincial travel, Thais should be wary against infections. People’s travel confidence and their overall spending behavior, especially during the Songkran holiday, need to be monitored.

 

He said domestic tourism sentiment during Songkran is likely to be downbeat because of the fresh outbreak, though the central bank needs actual data before making any economic revisions.

 

According to the central bank forecast, the economy would grow by 3% this year if 3 million foreign travellers visit Thailand, while GDP would contract 0.5% if there are only 100,000 international visitors in 2021. In the worst-case scenario, the economy would contract by as much as 1.7%, with foreign arrivals below 100,000 and more virus mutations.

 

-- © Copyright NNT 2021-04-12

 

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[RichardColeman]

11 minutes ago, webfact said:

while GDP would contract 0.5% if there are only 100,000 international visitors in 2021. In the worst-case scenario, the economy would contract by as much as 1.7%, with foreign arrivals below 100,000 and more virus mutations.

Here we go, the first negative GDP predictions 

 

Where's that guy that called me out on this for saying probable negative GDP coming in 2021 and to trust the financial wizzos predictions of growth for Thailand this year ? ????  

PS. I'd rather be proved wrong and get back to the wife this year.

[Excel]

1 hour ago, RichardColeman said:

Here we go, the first negative GDP predictions 

 

Where's that guy that called me out on this for saying probable negative GDP coming in 2021 and to trust the financial wizzos predictions of growth for Thailand this year ? ????  

PS. I'd rather be proved wrong and get back to the wife this year.

You can get back by going through the quarantine routines.  And if the GDP goes negative hopefully the baht will tank so the current exorbitant quarantine costs will effectively get more like reasonable hopefully.

[trainman34014]

Infection are rising daily and deaths will rise too; no Vaccinations for the Masses but the most important thing is being concerned about MONEY !

[Venom]

3 hours ago, Excel said:

And if the GDP goes negative hopefully the baht will tank so the current exorbitant quarantine costs will effectively get more like reasonable hopefully.

No it only means prices will go up. That's the way inflation works. Lowering the value of money does not make stuff cheaper for long. Remember 1998 financial crises when the baht lost halve it's value and within days the prices doubled? That's what currency devaluation looks like.

[Venom]

4 minutes ago, trainman34014 said:

Infection are rising daily and deaths will rise too; no Vaccinations for the Masses but the most important thing is being concerned about MONEY !

Of couse many businesses and people in positions of power are doing very well for themselves. Thank you. ????

[ukrules]

5 hours ago, trainman34014 said:

Infection are rising daily and deaths will rise too; no Vaccinations for the Masses but the most important thing is being concerned about MONEY !

Well this is the Bank Of Thailand, their only concern is money, that's literally their job.