FTI Expects Losses of Bt100 Billion from Third Wave of Covid-19

By Paphamon Arayasukawat

BANGKOK (NNT) - The Federation of Thai Industries (FTI) expects the third wave of Covid-19 to cause losses of around 100 billion baht to the manufacturing sector.

FTI chairman Supant Mongkolsuthree said the outbreak will affect factories, especially those supplying the tourism and service markets. People are fixated on virus spread, staying at home and restricting travel to avoid the disease.

He said the third wave is bad for the domestic economy, adding that Thailand has only a few economic boosters, including exports, which showed signs of growth based on a global economic recovery driven by the US and China.

Mr Supant said the urgent issue for Thailand is administering Covid-19 vaccines at a rapid speed. If the government can administer 20-30 million doses to people by June, it could prevent further economic loss and help affected businesses get back on track.