GDP Expected to Shrink by 10% in Virus-Stricken 2020

08.07.2020 - 05:47

BANGKOK — A major bank said the Thai GDP may shrink by as much as 10.3 percent this year due to economic woes caused by the coronavirus. According to a report released by the Bank of Ayudhya, as many as 80 percent of the labor force is affected by the virus, a rise from its earlier forecast of 50 percent. The bank, also known as Krungsri, also warns that the impact from the collapse of the tourism industry in Thailand could prove severe.

(Economy, Thailand)

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