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“Thailand’s economy will take 2-3 years to recover” – Krungthai

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“Thailand’s economy will take 2-3 years to recover” – Krungthai | Thaiger

Across the world the hopes of a quick recovery in countries’ economies evaporate as the effects of either the coronavirus, or the effects of the lockdowns, drag on. Even though Thailand has effectively contained Covid-19 at this stage with zero local transmissions for over 2 months, the economy is now stumbling with many businesses shuttered and no tourists coming into the country.

Krungthai Bank has published a report stating that it would take 2-3 years for economic recovery in Thailand while health and digital business “would have a bright future”. Payong Srivanich, the Krungthai Bank president, quoted from a UN report stating that the Covid-19 pandemic was the worst global crisis since World War II.

In 2021 Covid-19 would cause a “severe contraction” to 60% of the global economy and it would take 2-3 years for economic restoration.

“However, Thailand was in a better position than many countries thanks to its monetary and financial discipline, adaptation and digitalisation in the private sector.”

The report points out that Covid-19 brings a bright future to health business and “accelerated technological development”. The report states that in April there were more than 10 million Prompt Pay transactions a day, doubling last year’s transactions.

The Krungthai Bank Compass Research Centre predicts that the Thai economy will shrink by up to 8.8% for 2020. The downturn would be close to what happened in the Tom Yum Kung economic crisis (below).

The Asian financial crisis was a period of financial crisis that gripped much of east Asia and south east Asia starting in July 1997 and raised fears of a worldwide economic meltdown.

The crisis started in Thailand (known locally as the Tom Yam Kung crisis) on July 2, with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the US$.

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3 Comments

3 Comments

  1. Avatar

    Toby Andrews

    Sunday, August 2, 2020 at 10:45 am

    And for every week these state restrictions persist, and any week to recovery.

  2. Avatar

    Perceville Smithers

    Sunday, August 2, 2020 at 2:25 pm

    Updates on when the travel restriction on general tourism will be lifted needs to be better communicated. Also, getting testing results back within 72 hrs in all countries is not realistic.

    I’ve talked to several people who’ve been visiting for 15+ yrs but are feeling no longer welcomed.

  3. Avatar

    Simon

    Tuesday, August 4, 2020 at 9:27 pm

    Thailand has focused only on containing the virus – a very focused but narrow approach, allowing its economy to stagnate. It has done so in order to congratulate itself on its handling of the virus and of course in the eyes of the World it has done a good job, thus saving face etc.

    Unfortunately, no one can estimate how long it will take for the economy to recover because no one even knows when the economy will restart in earnest.

    Countries like the UK which has been criticised for its handling of the virus is bringing the virus under control while allowing its economy to continue – a two-pronged approach. Countries will need to learn how to adapt to living with the virus. Trying to eradicate it is a waste of time. But of course, it makes you look good and gives you a well-earned pat on the back.

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Chon Buri

Chon Buri adds 99 new Covid-19 infections today

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Chon Buri adds 99 new Covid-19 infections today | Thaiger
FILE PHOTO: Covid-19 cases continue to be identified from entertainment venues across Thailand.

The Chon Buri Covid-19 cluster is spreading with the Chon Buri Provincial Public Health Office confirming 99 new cases today. The province, which contains Pattaya, seems to be following a growing infection trend. The Pattaya area saw 47 new cases, and Mueang Chon Buri had 41 cases, with other districts having less than 5 each. 2 people infected with Covid-19 were brought from outside Chon Buri for treatment locally. The new cases bring the total number of Covid-19 infections in the province up to 710 people.

While infections are on the rise, officials advise that the numbers are not showing a severe or exponential increase and are in line with daily averages. They say the growing numbers are more likely due to “diligent testing throughout the community”, especially in nightlife venues and popular entertainment districts. 984 cautionary tests were administered today along with 342 people suspected to have been in close contact with Covid-19 infected people.

Within the new infections, 41 people are still being investigated to find the source of the virus, while 29 people were family members or close contacts of other infected people.

The sources of new infections are…

  • PATTAYA
    • 3 infections at The Box 69 Pattaya
    • 3 infections at Cetus Pattaya
    • 3 infections at Garden 168
    • 1 infection at Bone Pattaya
    • 1 infection at Insomnia Pattaya
  • OTHER AREAS IN CHON BURI
    • 5 infections at Flintstone’s Pub in Meung Chon Buri, the source of 137 cases total.
    • 4 infections at Infinity Siracha
    • 3 infections at 2.7 Replay Bang Saen
  • FROM OUTSIDE CHON BURI
    • 4 infections at Entertainment venues in Bangkok

SOURCE: The Pattaya News

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Coronavirus (Covid-19)

Northern Thai provinces starting Covid restrictions as 3rd wave spreads

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Northern Thai provinces starting Covid restrictions as 3rd wave spreads | Thaiger
Stock photo via Flickr

Thailand’s northern provinces are starting to impose more self-quarantines or travel restrictions to combat the recent Covid-19 outbreak that has spread quickly throughout northern Thailand. Phichit and Lampang provinces are the latest in northern Thailand to impose a variety of covid-19 restrictions on people entering.

A Thailand Interior Ministry told Chiang Rai Times that the longer list emphasises the seriousness of the 3rd wave of the coronavirus. The new wave originated in nightlife venues in Bangkok and has spread to 74 out of Thailand’s 77 provinces, as of yesterday. Health inspectors believe the new and more contagious UK strain of Covid-19, named B117, arrived in Thailand from Cambodia through migrants.

But as the CCSA has largely placed restrictions in the hands of each provincial government, many are confused about what guidelines they must follow upon entering certain provinces. Northern Thailand’s Lampang province, for example, orders visitors from Bangkok, Nonthaburi, Pathum Thani, Samut Prakan, Nakhon Pathom and Chiang Mai to report immediately to local health authorities or officials, but it does not require them to undergo quarantine for 2 weeks if test results are negative.

Visitors are advised to check updated information at moicovid.com as the rules are different in each province. So far, 42 provinces have imposed self-quarantine. Phichit, Lampang and Ubon Ratchathani were the latest to join 39 other provinces imposing a variety of restrictions on people entering their provinces.

Visitors to the website posted multiple questions, mostly on whether they needed to be quarantined.

Provinces that impose self-quarantine or other requirements on travellers:

NORTH

  • Chiang Mai
  • Kamphaeng Phet
  • Lampang
  • Lamphun
  • Nan
  • Phayao
  • Phetchabun
  • Phichit
  • Phitsanulok
  • Phrae
  • Tak
  • Uttaradit

NORTHEAST

  • Amnat Charoen
  • Bung Kan
  • Buri Ram
  • Chaiyaphum
  • Khon Kaen
  • Maha Sarakham
  • Mukdahan
  • Nakhon Phanom
  • Nakhon Ratchasima
  • Nong Bua Lam Phu
  • Nong Khai
  • Sakon Nakhon
  • Ubon Ratchathani
  • Udon Thani
  • Yasothon

CENTAL AND EAST

  • Chai Nat
  • Lop Buri
  • Nakhon Sawan
  • Sa Kaeo
  • Saraburi
  • Sing Buri
  • Uthai Thani

SOUTH

  • Chumphon
  • Narathiwat
  • Pattani
  • Phangnga
  • Ranong
  • Satun
  • Songkhla
  • Trang

SOURCE: Chiang Rai Times

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Covid UPDATE: Wednesday’s new infections rise to 1,335 people, 36 people in “serious condition”

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Covid UPDATE: Wednesday’s new infections rise to 1,335 people, 36 people in “serious condition” | Thaiger

Thailand’s CCSA has announced 1,335 new infections today, after a slight dip in the 10 day surge yesterday. 1,326 of those new infections are local, not imported, and mostly from Bangkok. Today’s tally takes the national total to 35,910 since January 2020 when the first case outside China was detected in Thailand on January 13.

The new infections have mostly emerged in Bangkok with 351 cases. Surrounding provinces report an additional 115 infections today. In other provinces, 877 people.

It’s also been reported today that 36 people are currently in a serious condition and 9 people are on ventilators. Here’s the number of cases reported each day since the start of April…

April 1 – 26 infections

April 2 – 58 infections

April 3 – 84 infections

April 4 – 96 infections

April 5 – 194 infections

April 6 – 250 infections

April 7 – 334 infections

April 8 – 405 infections

April 9 – 559 infections

April 10 – 789 infections

April 11 – 967 infections

April 12 – 985 infections

April 13 – 965 infections

April 14 – 1,335 infections

Meanwhile, Prachuap Khiri Khan officials have ordered the closure of “high risk venues” such as pubs, bars, water parks, children’s playgrounds, gyms, cinemas, game shops. The Governor says restaurants can open “but no alcohol can be served”. This includes the seaside town of Hua Hin.

In Krabi there is now a total of 11 infections, 6 new ones yesterday.

In Chon Buri, which includes Pattaya, there were 99 new confirmed infections of Covid today … a similar number to the past few days.

Total number of infections being treated in provinces…

• Bangkok: 1,689
• Chiang Mai: 880
• Chonburi: 594
• Samut Prakan: 416
• Narathiwat: 304
• Prachuap Khiri Khan: 265
• Samut Sakhon: 166
• Pathum Thani: 124
• Sa Kaeo 105
Covid UPDATE: Wednesday's new infections rise to 1,335 people, 36 people in 

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