InfoQuest (September 30, 2020) -- The World Bank predicts that Thailand's economy will drop by 8.3 percent in 2020 due to the COVID-19 pandemic, with an inflation rate of -0.9 percent and a worst-case scenario of 10.4 percent decline. While in 2021, the Thailand's economy will see an increase of 4.9 percent, with an inflation rate of 1 percent and a worst-case scenario of 3.5 percent growth.
On the whole view, the global spread of COVID-19 has urged countries to spend great efforts to contain the pandemic, significantly contributing to the decline in economic activities. The ultimate economic outcomes rest on the achievements of the fight against and the impact from COVID-19.
The World Bank also forecasts only 0.9 percent rise of the East Asia and Pacific (EAP) region, the lowest rate since 1967. In the first half of 2020, China's economy shrank by 1.8 percent, while the rest of the region contracted by 4 percent on average.
The impact from COVID-19 warns developing countries in Asian-Pacific region to keep a watchful eye on infectious diseases, pay attention to the effects of pandemic prevention results on economy, and realize the long-term downturn of global economy.
Source: InfoQuest, by Kasamarporn Kittisamphan / Sasithorn, translated by Xinhua Silk Road
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