BANGKOK — Thailand
downgraded its economic growth forecast for 2021 on Monday as it battles its
worst COVID-19 wave, which has brought record numbers of new infections and
deaths.
اضافة اعلان
The kingdom last year
suffered its worst full-year performance since the Asian financial crisis of
1997 with a 6.1 percent economic contraction.
The Office of the
National Economic and Social Development Council (NESDC) had initially given a
cool forecast for recovery during the first quarter, estimating growth of 1.5
to 2.5 percent for 2021.
But on Monday, NESDC
Secretary General Danucha Pichayanan announced it had to revise that figure
down to between 0.7 and 1.2 percent.
"This crisis
caused by the pandemic is unlike the financial crises of 1997 and 2009 — our
estimation is based on domestic causes," he said during a press
conference.
He added that the new
forecast was dependent on the hope that the pandemic's curve will flatten after
the third quarter, enabling a relaxation of restrictions by October.
"But if the
pandemic continues and relaxation cannot start in the fourth quarter ... the
growth could be lower than 0.7 percent," Danucha said.
Thailand's GDP for the
second quarter was up 7.5 percent on the same period last year, the first sign
of recovery since the pandemic.
The growth was most
visible in agricultural, industrial and exports sectors, while tourism — once
Thailand's cash cow — remained sluggish.
The kingdom has
gradually re-opened borders to vaccinated travelers via a quarantine-free
program in ultra-popular beach island Phuket — drawing more than 34,700
tourists to its sun-soaked shores since the so-called "sandbox"
launched on July 1.
But COVID-19 cases
there have started to climb.
Restrictions were
enacted last month on Phuket's businesses — shuttering pubs, boxing studios and
karaoke lounges — while domestic travelers have been barred from entering the
island.
Authorities said over
the weekend the restrictions on entertainment venues in Phuket would continue
for another two weeks.
Since the start of the
pandemic Thailand has recorded 928,314 cases with 7,733 deaths, the bulk of
them detected since April.
The country has seen
more than 20,000 new cases reported daily for nearly a week, crowding its
already-hampered healthcare system and filling up its state-run quarantine
facilities.
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