JSCCIB Raises Thai 2021 Growth Forecast to -0.5-1%
JSCCIB raises Thailand's 2021 growth forecast to -0.5-1.0 percent, citing improvement in the COVID-19 outbreak situation and the government's recent success in securing additional coronavirus vaccines
JSCCIB raises Thailand's 2021 growth forecast to -0.5-1.0 percent, citing improvement in the COVID-19 outbreak situation and the government's recent success in securing additional coronavirus vaccines
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The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) raises Thailand’s 2021 growth forecast to -0.5—1.0 percent from -1.5—0 percent, citing improvement in the COVID-19 outbreak situation and the government’s recent success in securing additional coronavirus vaccines, which are expected to be a major driver of economic growth for the remainder of this year.  
Additionally, the Joint Committee upgrades its projection for export growth to 12—14% from 10—12% as the global economy continues to recover in the midst of the pandemic; some countries have re-imposed lockdown measures, but most activities have resumed. According to the Manufacturing Purchasing Managers Index (PMI), Thailand’s exports are growing at a rapid pace, which is positive for the Thai export sector. However, if the situation deteriorates further, Thai economy is at risk of entering a recession.