Thailand’s economic index decreases, household debt rises

BANGKOK – Due to the COVID-19 pandemic, the employment rate, debt and other financial burdens have been affecting the economy and Thailand’s cost of living. The country’s economic index has also decreased.

It’s predicted that the economic index for the next three months will decrease from 37.4 to 36.8. Meanwhile, Thai families are increasingly concerned with all aspects of changes, especially the costs of products and services after food and energy capital costs were raised. Another factor that might play a major part in the economic conditions is the possibility of a second wave of the COVID-19 pandemic.

Kasikorn Research Center has predicted that Thailand’s economic situation and cost of living for the rest of this year is slowly regenerating but is still fragile, even though the Bank of Thailand and the government have been launching financial support of various types.

The main reasons are the low employment rate and global economic woes.

However, the survey found that if there is a second wave of the pandemic, the majority of Thai citizens still want the government to lockdown only places affected by the outbreak.

Source: Thai National News Bureau

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