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Bank of Thailand holds rate, cuts GDP forecast on Covid spike
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Thailand to Boost Covid-19 Vaccine Rollout to Save Tourism and Economy
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Leaders hold their breath Leaders hold their breath
Business groups throughout the country know it will be a long slog for the economy to recover and step up to do their part
published : 26 Apr 2021 at 05:30
4 People wait their turn to be tested for Covid-19 behind a mobile medical unit stationed at Khao San Road. (Photo by Pornprom Satrabhaya)
The third wave of the pandemic is the biggest in Thailand and threatens to reduce GDP growth in the country by 1.2 percentage points this year, forcing the state and private sectors to cooperate to survive the crisis.
More powerful measures to stop the spread of the virus and improve the tepid economy are needed and must be administered quickly.
Taking a hit: The deserted tourist belt of Khaosan Road in Bangkok. Thailand’s economy shrank 6.1% last year, its worst showing since the Asian financial crisis, as the pandemic slammed key drivers like tourism and exports. Bloomberg
BANGKOK: Thailand’s Eastern Economic Corridor aims to boost the nation’s gross domestic product by as much as 2 percentage points a year through infrastructure projects and foreign investment in advanced industries, from 5G technology to electric vehicles.
While the pandemic has disrupted some foreign investment in the industrial hub near Bangkok, the corridor’s 625 billion baht (US$20bil or RM82.19bil) in infrastructure projects – including an airport, seaport and high-speed rail – have supported growth during the pandemic, according to Kanit Sangsubhan, secretary-general of the Eastern Economic Corridor Office.
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