Economic recovery could take longer than predicted, central bank says

[webfact]

 

By Panithan Onthaworn

 

Thailand’s economy will take longer than expected to bounce back to pre-Covid levels, the Bank of Thailand’s governor, Sethaput Suthiwartnarueput, said on Thursday.

He noted that earlier projections on when the economy could recover could be wrong, as predictions are more complicated than the clear cut figures like GDP, exports, consumption, etc. 

 

The Bank expects that the economy won’t rebound to pre-Covid levels until at least the first quarter of 2023.

 

Full story: https://www.thaienquirer.com/35728/economic-recovery-could-take-longer-than-predicted-central-bank-says/

 

-- © Copyright Thai Enquirer 2021-12-10

 

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[daveAustin]

Highly optimistic. The place will still be largely closed by that point. Never mind, prayut will sell out to China in due course. 

[Sydebolle]

Wishing the Bank of Thailand governor the best of luck with this forecast but then again, Thailand has always been good for a surprise ....... on vera!! 

[Jerno]

Crystal ball anyone?  Who really knows. Get off the media before you hurt yourself with your stupid predictions. 

[JonnyF]

With all the consumer debt that's been accumulated in the last 2 years, I doubt consumer spending will return to normal for quite a few years. People are maxed out.

 

I also don't believe tourism will reach 2019 levels for at least 5 years. If ever.

 

There won't be as much Chinese money coming into the country either, since many of them don't have it and those that do will find it harder to get it out of China.

 

So Q1 of 2023 seems a bit of a stretch. 

[Scott Tracy]

So, the economy is expected to take longer to recover than expected. Is this another expected date on top of another expected date?

 

how come all countries employ such soothsayers and charlatans? Economists, analysts, what use are they?

[ArcticFox]

Those observations are pretty obvious.
Keep all the New Normal restriction is place, keep that boot stamping on the face on humanity, and there will never be a return to any semblance of normalcy. But of course, the only economic 'rebound' they are interested in is one where the wealthy are making profits again.  They don't give a rip about small businesses.

[ArcticFox]

1 hour ago, Scott Tracy said:

Economists, analysts, what use are they?

Comic relief.

[vivananahuahin]

May be 2025, they forget Evergrande in China, we will know after 26 december if Thailand need be concern about this, for the moment shhht.

[trainman34014]

Just replace the word 'Could' in the headline with 'Will' !