Small Business Contributions to Thailand’s Gross Domestic Product are Expected to Fall

[snoop1130]

 

BANGKOK (NNT) - Thailand’s Office of Small and Medium Enterprises Promotion (OSMEP) expects that SMEs contributions to the country’s gross domestic product (GDP) will fall in the second quarter, because of the harsh impact of new COVID-19 infections, which began in April.

 

OSMEP Director-General Veerapong Malai said the agency has forecast the contribution of SMEs to GDP will fall from 35% of GDP in the first quarter of this year.

 

He said the agency is in the process of estimating the impact of the third wave of COVID-19 on SMEs and is waiting for data about Thai economic performance in the second quarter from the National Economic and Social Development Council (NESDC), scheduled to be announced on August 16.

 

According to the country’s 13th national social and economic development plan (2022-26), the government aims to have Thai SMEs play an important role in generating income for the Thai economy, as they do in developed countries such as Germany, France, Italy and Japan, where SMEs are a crucial engine for generating income.

 

-- © Copyright NNT 2021-07-07

 

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[billd766]

 

 

Well there is an unexpected surprise.

 

Just imagine, forcing SMEs to close as a precaution against Covid, and then wondering why there is no income or taxes from them.

 

Who would have thought that could happen?

 

Sarcasm mode off.

[Soikhaonoiken]

Doesn't take a brain surgeon to work that one out, my 11yr old son could have told you that.... 

[Venom]

Covid has been extremely profitable for the conglomerate while wiping out smaller competitors. ????

[hotchilli]

14 hours ago, snoop1130 said:

Thailand’s Office of Small and Medium Enterprises Promotion (OSMEP) expects that SMEs contributions to the country’s gross domestic product (GDP) will fall in the second quarter, because of the harsh impact of new COVID-19 infections, which began in April.

That's a no brainer...

[johng]

2 hours ago, Venom said:

Covid has been extremely profitable for the conglomerate while wiping out smaller competitors. ????

Yes and people who suggest it was "part of a plan"  are labelled conspiracy theorists !!!

[Knocker33]

9 hours ago, Venom said:

Covid has been extremely profitable for the conglomerate while wiping out smaller competitors. ????

And some countries especially the one that started all this.. Their economy has grown 18.5 %  this year. Better not name the country  considering who hosts this site

[natway09]

What a brilliant informed statement.

Yhe headline just states the obvious.

Have they nothing better to do ?