Kasikorn Cuts 2020 GDP to Contrat 10% as Pandemic-Political Issues Weight on Economy

Kasikorn Cuts 2020 GDP to Contrat 10% as Pandemic-Political Issues Weight on Economy

Kasikorn Research Center has revised its forecast of Thai economy in 2020 to a deeper contraction of 10% from a 6% contraction, assessing that Thailand is still facing economic instability from the Covid-19 pandemic fallout, along with Thai Baht depreciation and political issues. Analysts expect a U-shaped recovery in Thailand’s economy. 

 

Regarding monetary policy, Kasikorn foresaw that the Monetary Policy Committee (MPC) will maintain the policy rate at this level at least until the third quarter of this year.