New research by the Kiatnakin Phatra Bank estimates it will take 3 months of having quasi-lockdown measures in place to mitigate the situation. The KKP research says it will take longer to get the situation under control because of the Dela variant, the slow ordering of lockdowns, and the inertia of the mass vaccinations.
The think tank says if a partial lockdown down continues for an extended period of time, the manufacturing and export sectors, which they say are the country’s hope of keeping the economy together, will be affected. Further, that if these measures continue to stay in place for the 3 months required to alleviate the situation, the GDP’s growth will fall by.5% from the original estimate of 1.5%
They add that exports are getting better but not enough to compensate for the overall hits to this year’s economy. The KKP research/think tank doesn’t anticipate the economy will go back to its pre-pandemic levels until 2023.
The KKP research recommends the government work on its policies and to put measures in place to stop the spread of Covid. They recommend providing transparent communication to the public, imposing restrictive measures with an eye toward future plans, and improving the efficiency and efficacy of Covid screening, investigation and treatment. Also, to obtain and administer mRNA vaccines to work at getting herd immunity. As well as other sweeping reforms.
Earlier today, the Thaiger wrote how Singapore has been forced to re-introduce stricter measures as Covid-19 cases rise. It was also announced earlier today that 7 factories had to close after over 100 employees tested positive for Covid.
SOURCE: Thai PBS
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