Motorbikes and cars pass by as vendors sell their wares along a road in Bangkok. Thailand’s economy is estimated to shrink 6.5 per cent in 2020 from the impact of Covid-19 pandemic. - AFP BANGKOK, Jan 23 (Bernama): Thailand’s economy is estimated to shrink 6.5 per cent in 2020 from the impact of Covid-19 pandemic.
However, it is projected to rebound to 4 per cent in 2021, according to World Bank’s Thailand Economic Monitor report.
The latest edition of the World Bank’s Thailand Economic Monitor, Restoring Incomes; Recovering Jobs,” said Covid-19 has severely affected the Thai economy, which was already weakening even prior to the global outbreak.
Date Time
Thailand: Growth in Jobs Critical for Sustained COVID-19 Recovery
Boosting labor productivity and labor market participation will help manage the challenge of an aging population, according to new World Bank Report
BANGKOK, January 20, 2021 – Thailand’s economy was severely impacted by the COVID-19 pandemic and is estimated to have shrunk by 6.5 percent in 2020. Growth is projected to expand by 4.0 percent in 2021, according to Restoring Incomes; Recovering Jobs, the latest edition of the World Bank’s Thailand Economic Monitor,” launched today. The report stresses that sustained recovery in employment will be essential to helping the country bounce back in 2021 and 2022.