Fitch Expects 1.8% Thai GDP Growth

[snoop1130]

 

BANGKOK, June 23 (TNA) – The Thai economy will grow by 1.8% this year limited by the third wave of COVID-19 in the country and then expand by 4.2% next year, according to Fitch Ratings.

 

Jindarat Sirisithichote, associate director for financial institutions at Fitch Ratings (Thailand), said the third wave of COVID-19 slowed down economic activity.

 

Although disease control measures were not as harsh as those imposed in previous waves, economic activity declined, she said.

 

Full Story: https://tna.mcot.net/english-news-723450

 

-- © Copyright TNA 2021-06-23

 

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[RubbaJohnny]

Growth of hubs maybe , until normal travel and tourists resume spending it will be difficult.Of course immigration could make it more attractive remove 90 day  nonsense TM alpahbet soup. facilitate investors to buy land gain PR but they won't.

[The Cipher]

This surprises me a bit. Would be interesting to see a follow-up breakdown of the growth drivers and changes in the major pillars of the economy compared to pre-Covid.

[Fex Bluse]

On 6/23/2021 at 6:14 PM, snoop1130 said:

BANGKOK, June 23 (TNA) – The Thai economy will grow by 1.8% this year limited by the third wave of COVID-19 in the country and then expand by 4.2% next year, according to Fitch Ratings.

 

My instincts tell me this is impossible. Not sure how they are arriving at the number or if it's politically motivated.

 

If I consider logically, the Thais have FINALLY admitted how significant foreign tourism is to the Thai economy -- more than 20% of GDP.

 

Foreign tourism has been devastated for the past year.

 

How have they made up the massive loss? Rice exports?