Thailand Business News
Thailand Business News

Bank of Thailand expects 3% economic growth in 2021

Must read

Measures to assist business sector affected by COVID-19

BANGKOK(NNT) - To ease the impact of the coronavirus disease 2019 (COVID-19) on...

Banks assure no new account needed for assistance payments

BANGKOK (NNT) - Krungthai Bank (KTB) and the Government Savings Bank (GSB) have...

Covid-19 to cut Asian growth to 2.2%, Thailand -4.8% (ADB)

 Regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the novel coronavirus (COVID-19) pandemic, before recovering in...


The Bank of Thailand has released its latest overview of the Thai economy, which it expects will grow more than 3 percent in 2021.

Meanwhile, the latest report by the National Economic and Social Development Council (NESDC) reported 2.4 percent growth in 2019, but has downgraded 2020 GDP growth to only 1.5-2.5 percent.

These figures are lower than previous expectations issued by the Bank of Thailand last December, when it expected 2019 to close with 2.5 percent growth, and foresaw 2020 GDP of 2.8 percent this year.



The low performing economy is affected by the drought disaster, delay of the 2020 government budget, and the unexpected outbreak of COVID-19 since late January, which has been an extraordinary development beyond the expectations of any observer.

The Bank of Thailand will be adjusting the new economic forecast on 25th March, prior to which it will be monitoring the development and effects of the COVID-19 virus which has had a significant negative impact this year. The bank expects the virus to cause most damage in Q1, before the situation gradually improves later.

The bank is confident the Thai economy will swing back and expand at more than 3 percent by 2021, should there be no additional negative factors.

The post Bank of Thailand expects 3% economic growth in 2021 appeared first on Thailand Business News.

Read the complete story on Thailand Business News

More articles

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest article

PM urges stringent punishment of forest arsonists

BANGKOK (NNT) - The air pollution level this morning has been of concern...

Banks assure no new account needed for assistance payments

BANGKOK (NNT) - Krungthai Bank (KTB) and the Government Savings Bank (GSB) have...

Cabinet ministers discuss third phase of economic measures

BANGKOK (NNT) - After acknowledging the severe impact of the coronavirus disease 2019...

Diversification and Real Estate – Real Estate

Diversification is a key strategy to form a crisis-proof portfolio of assets. Investors must find sound investments in which to place their wealth while...

COVID-19 could cut 30 million jobs in the tourism industry in Asia – Tourism, Travel

The World Travel and Tourism Council has warned the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry.Asia is...