InfoQuest, (July 31, 2020) -- Fiscal Policy Office (FPO) forecasts that Thailand’s economy will contract 8.5 percent due to the outbreak of the COVID-19 pandemic. As it now begins to show signs of recovery after passing the lowest point in the second quarter of 2020 when the economy was expected to plunge more than 10 percent, Thailand’s economy is likely to grow 4-5 percent in 2021 and FPO forecasts that in the third quarter of 2020, there will have a possibility either falling as the previous quarter or rising. Therefore, the Ministry of Finance will closely monitor the economic situation and be prepared to launch appropriate measures in each period.
Source: InfoQuest, by Tanit Tongnok / Sasithorn Simaporn / Rachada Kongkhunthian, translated by Xinhua Silk Road
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