Developing Economies risk “Hard Landing” in 2023 says World Bank

Growth in EAP is projected to decelerate to 5.1 percent in 2022, reflecting a slowdown in China. Thailand’s economy is expected to recover gradually over the next two years, with growth picking up in 2022 and strengthening to 4.3 percent in 2023.

Global Community Steps Up with $93 Billion Support Package for World’s Poorest Countries

 The World Bank today announced a $93 billion replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future.

World Bank keeps Thai growth outlook at 1% this year but expects 3.9% in 2022

Thailand’s economy is still expected to grow 1% this year due to the impact of a coronavirus outbreak, but growth is expected to accelerate to 3.9% next year, driven by a recovery in service sector activity, according to the World Bank.

Insights into the impact of COVID-19 on Thailand’s households

In April 2020, the Thai government passed a 1 trillion baht borrowing decree to address health needs, provide relief, and economic recovery. An estimated 44 million Thais have benefitted from this social assistance and social insurance programs during the pandemic.

How Asia Pacific can turn COVID crisis into an opportunity

Bold policies needed to boost economic recovery and improve social stability

The Impact of COVID-19 on Thailand’s economy

Thailand’s economy is expected to be impacted severely by the COVID-19 pandemic, shrinking by at least 5 percent in 2020 and taking more than two years to return to pre-COVID-19 GDP output levels

Covid-19, poverty, social protection and the Thai economy

More than half of workers in Thailand are informal, meaning they are not covered by a social security scheme and are particularly vulnerable.

EAP Countries Brace for Economic Shock of COVID-19

Growth in the developing EAP region is projected to slow to 2.1 percent in the baseline and to negative 0.5 in the lower case scenario in 2020, from an estimated 5.8 percent in 2019.