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.
