BOT Projects Thai GDP Contraction of 7.8% before Return to Pre-Pandemic Levels in 3Q22

Bank of Thailand estimated a sharp economic contraction between the fourth quarter this year until the early of 2021 and will steadily recover in the second quarter of 2021 before returning to pre-pandemic levels in the third quarter of 2022. For the year 2020, BOT projected drastic Thailand’s GDP contraction of 7.8%-8.0%.