Thailand’s Economy Hit Hardest by Covid in Southeast Asia based on World Bank report

The Thai economy would shrink by 5% this year in the World Bank’s worst-case scenario, with the coronavirus outbreak compounding existing problems like drought, stagnant wage growth, rising unemployment and growing poverty.

If the global lender’s forecast holds true, the contraction will be similar to the 5.3% decline projected by the Bank of Thailand and represent the biggest GDP contraction among the emerging Asean economies analysed.

READ THE FULL REPORT  ON THAILAND OUTLOOK BY WORLD BANK:
https://docs.google.com/document/d/14CZsqPZmc0KZQ39fWkS5-ne_d5CXLbwh47FyV1lmCkc/edit

ce the 2008 global financial crisis, which resulted in a 2.3% downturn for the economy in 2009.

• Read more: https://www.bangkokpost.com/business/1892050/world-bank-warns-of-5-gdp-decline-in-worst-case-forecast