Business & Economy

Thailand’s economy grows 7.5% in the second quarter

Bangkok, Aug 16 (EFE).- The Thai economy grew 7.5 percent in the second quarter of 2021, its first advance since the beginning of last year, according to data released Monday by the government, while part of the country is confined to cope with a serious outbreak of Covid-19.

The National Office for Social and Economic Development said Thailand’s gross domestic product grew 7.5 percent compared to the first quarter of 2020, when the country suffered a sharp setback in its economy at the beginning of the pandemic.

The main reasons for this advance of the second economy in Southeast Asia between April and June are an increase in exports of more than 36 percent, amid a climate of international recovery, and an increase in public spending.

The agency however lowered its full-year growth forecast to a range of 0.7-1.2 percent from a previous forecast of 1.5-2.5 percent growth.

Thailand had successfully prevented the spread of the virus during the first year of the pandemic, but since April the situation began to deteriorate following an outbreak of Covid-19 detected in several nightlife establishments in Bangkok.

To stop the current outbreak, which registers about 20,000 cases and about 200 deaths a day, the authorities have imposed strong measures since last June, especially in Bangkok, where all restaurants, shopping centers, and leisure centers are closed. A night curfew and a ban on public gatherings have been imposed. EFE


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