Thai economy should grow in 2021 as virus curbs ease -deputy PM

[snoop1130]

FILE PHOTO: Thais flock to sell gold as demand for cash increases after the partial shut down caused by the outbreak of the coronavirus disease (COVID-19) hurts the local economy in Bangkok, Thailand April 16, 2020. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's economy should grow this year, picking up pace in the third and fourth quarter, after the easing of tougher restrictions to contain the country's biggest coronavirus outbreak, a deputy prime minister said on Thursday.

 

The restrictions, imposed in July and August, have been eased https://www.reuters.com/article/idUSL1N2Q006L from this month as the Southeast Asian country tries to help a flagging economy, with tourism still struggling.

 

"After the relaxation of curbs, growth in the third and fourth quarter should be good and the result should be positive this year. Next year, the growth rate will increase," Deputy Prime Minister Supattanapong Punmeechaow, who is in charge of economic matters, told a virtual business seminar.

 

"There is light at the end of the tunnel," he said.

 

In August, the state planning agency cut its 2021 economic https://www.reuters.com/article/idUSL4N2PL05Ngrowth forecast to 0.7-1.2% from 1.5-2.5% due to the outbreak.

 

Consumption has improved since the easing, along with ongoing government assistance measures for households and businesses, Supattanapong said.

 

The government is ready to offer more support measures as it still has about 400 billion baht ($12.2 billion) available under a 500 billion baht borrowing plan, he said, adding public debt was not too high compared with other countries.

 

Also, overall Thai and foreign investment applications are expected to reach 600 billion baht this year, a five-year high, he said.

 

Thailand has gradually reopened to foreign tourists, but it will take time to fill an "income hole" caused by the slump in tourism, Supattanapong said.

 

"I'm still confident that the economy will gradually grow with the help of all sides. It's a challenge because of the income hole," he said.

 

-- © Copyright Reuters 2021-09-09

 

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[Scrotobike]

Thai economic bounce back will not happen until tourists come back in large numbers.

This was the decline in real GDP.

Who knows when that will happen.....

[Mavideol]

26 minutes ago, snoop1130 said:

Thailand's economy should grow this year,

should, would could all of the same and none will happen because tonton Prayut big screw up

[Kadilo]

Sounds reasonable as long as the tourism bounce back is  maximised by continued easing of restrictions by the Year end so the target numbers can be achieved. 
 

Any reversal will affect both the bottom line in terms of foreign tourism and local spend. 
 

 

[mahtin]

Wonder who's got their eye on that 400 billion.

[zzaa09]

Economic growth.

Meaning: Profiting the elite community. 

[ukrules]

They're detecting 30,000 to 40,000+ cases each and every day in the UK, a largely vaccinated country.

 

If they're going to open up here they should expect at least the same, if not many more due to lack of vaccination but I'm getting the feeling they already know and accept this inevitability because there's no possible way they don't know what's coming...

 

There's zero chance that they don't know what's coming. They're just not talking about it.

 

[Lingba]

another fantasy

[Soikhaonoiken]

But, But, Mr Deputy PM,  we are getting near to the end of 2021, 

And still no sign of fast amounts of Tourists wanting to come to Thailand,  but I suppose miracles can happen... 

[sezze]

9 hours ago, ukrules said:

They're detecting 30,000 to 40,000+ cases each and every day in the UK, a largely vaccinated country.

 

If they're going to open up here they should expect at least the same, if not many more due to lack of vaccination but I'm getting the feeling they already know and accept this inevitability because there's no possible way they don't know what's coming...

 

There's zero chance that they don't know what's coming. They're just not talking about it.

 

There is a large difference in UK vs Thai numbers . Before UK had a multiple times more deaths /day  vs now . Once you are vaccinated ( and most who end up in hospital very sick or death aren't vaccinated ) , it merely becomes a infected number , being nothing more . Hospitals can follow the flow of patients , so no problem . In Thailand with less testing , lot less vaccination , any infected number means a risk . Risk for hospital admissions , risk for others which are prob not vaccinated also , risk of overflowing hospitals , and many times more deaths. In all of Europe numbers aren't very good , but thx to vaccinations , hospitals can cope with the flow .

[ukrules]

13 minutes ago, sezze said:

In all of Europe numbers aren't very good , but thx to vaccinations , hospitals can cope with the flow .

How long do you think they can maintain that in Europe this year?

 

It was all fine and dandy this time last year too.

 

I think you're going to be in for a big surprise in 4 to 8 weeks time when the lockdowns begin again.

 

[zzaa09]

1 hour ago, ukrules said:

How long do you think they can maintain that in Europe this year?

 

It was all fine and dandy this time last year too.

 

I think you're going to be in for a big surprise in 4 to 8 weeks time when the lockdowns begin again.

 

Seems to be the cycling trend since the COVID era among those usual hotspots around the world. 

Surges then lockdowns - reopen - and another nasty spike - more restrictive measures......and so on and so forth. 

 

I believe we require a different and more realistic approach/practice regarding everything COVID.

[sezze]

1 hour ago, ukrules said:

How long do you think they can maintain that in Europe this year?

 

It was all fine and dandy this time last year too.

 

I think you're going to be in for a big surprise in 4 to 8 weeks time when the lockdowns begin again.

 

Well that is all a big unknown . You might be right , so far the amount of breakthrough infections are still low ( meaning vaccinated people who do get sick ) , how long this will last is unknown . Can only hope that those who did get infected in the meanwhile build up more immunity , so the waves can become smaller ( and less dangerous ) . I am guessing we need a booster shot again after 1y of 1st vaccination . You can't however the situation now simply compare last y to this year , as much more is back to normal lvl's . This wasn't at all the case last y .

[cyril sneer]

1 hour ago, sezze said:

Once you are vaccinated ( and most who end up in hospital very sick or death aren't vaccinated ) , it merely becomes a infected number , being nothing more .

I have a feeling Thailand won't look at this way, even when they have over 70% vaccinated

[zzaa09]

16 minutes ago, cyril sneer said:

I have a feeling Thailand won't look at this way, even when they have over 70% vaccinated

I suspect that numerous countries that have a reasonable vaccination rate, or expect to be up there in the 70 percentile range, will still be looking at this the same way as well.

[crazykopite]

Doubt it will grow in the Tourism industry and that’s a fairly big chunk of business being lost 

[sezze]

56 minutes ago, cyril sneer said:

I have a feeling Thailand won't look at this way, even when they have over 70% vaccinated

Many countries don't look at that right now , but they do not have the 70% vaccination rate , so that question isn't answered . However if you look at the panic across the room about "we opening , we opening " then you can see a different view happening already .
You can't keep the virus out , it will get there , it is too far spread across the world . What can be stopped is hospitals getting full and many deaths . Unless they want to go to a N Korea , all the countries will get there at 1 point .

[Jimbo2014]

Reminds me of that song... Build Me Up And Break Me Down 

[HappyExpat57]

Even the most pie-eyed Pollyanna CHOKES trying to read this piffle!

[EricTh]

11 hours ago, sezze said:

There is a large difference in UK vs Thai numbers . Before UK had a multiple times more deaths /day  vs now . Once you are vaccinated ( and most who end up in hospital very sick or death aren't vaccinated ) , it merely becomes a infected number , being nothing more . Hospitals can follow the flow of patients , so no problem . In Thailand with less testing , lot less vaccination , any infected number means a risk . Risk for hospital admissions , risk for others which are prob not vaccinated also , risk of overflowing hospitals , and many times more deaths. In all of Europe numbers aren't very good , but thx to vaccinations , hospitals can cope with the flow .

 

Yes, it's the death figures that count but we are all vaccinated against the original strain and not the delta strain.

 

 

 

[Isaan sailor]

Nope.  Baht rising—that’s the only thing returning to normal.

[sezze]

27 minutes ago, EricTh said:

 

Yes, it's the death figures that count but we are all vaccinated against the original strain and not the delta strain.

 

 

 

It still works although not as good . If you can be in a motorbike crash with no helmet , with a bicycle helmet or motorcycle helmet which by now is not available , which 1 would you choose ? The bicycle helmet still works , might not be optimum protection , but it is much better then the no helmet choice .

There are plenty more variants around , and specialists are learning from it every single day , so they can adapt on it as soon as possible . Imagine it being a flu vaccine , which does have multiple strains of virus inside , to hopefully have the correct 1 inside it . Prob something like that is going to be there in the near future . They are also still learning how long the vaccines work , but i expect to need a boostershot after 1y , which isn't any issue . Patients with immune problems getting it faster , which is logic . All will show soon enough .

[3NUMBAS]

critical mass tourism is a  loong way in the future ,long haul flights are decimated

[jacko45k]

23 hours ago, EricTh said:

 

Yes, it's the death figures that count but we are all vaccinated against the original strain and not the delta strain.

 

 

 

Surely that statement only applies to inactivated virus vaccines.