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Krungthai: Economic Recovery to Take 2-3 Years

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Krungthai: Economic Recovery to Take 2-3 Years

 

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BANGKOK, Aug 1 (TNA) – Krungthai Bank stated that the coronavirus disease 2019 had global impacts and it would take 2-3 years for economic recovery while health and digital business had a bright future. 

 

Krungthai Bank president Payong Srivanich quoted the United Nations as stating that the COVID-19 pandemic was the worst crisis since World War II. 

 

Next year COVID-19 would cause severe contraction to 60% of the global economy and it would take 2-3 years for economic restoration. However, Thailand was in a better position than many countries thanks to its monetary and financial discipline, adaptation and digitalization in the private sector.

 

Full story: https://tna.mcot.net/english-news-486119

 

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-- © Copyright TNA 2020-08-02
 

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6 hours ago, rooster59 said:

Next year COVID-19 would cause severe contraction to 60% of the global economy and it would take 2-3 years for economic restoration. However, Thailand was in a better position than many countries thanks to its monetary and financial discipline, adaptation and digitalization in the private sector.

60% world contraction but Thailand is in a good position ? Was this guy promoted directly to president from the guy who puts the disinfectant blocks in urinals  ?

 

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I wonder what he’s smoking.  And I’d like to try some...

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A post using a trolling meme has been removed. 

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7 hours ago, RichardColeman said:

60% world contraction but Thailand is in a good position ? Was this guy promoted directly to president from the guy who puts the disinfectant blocks in urinals  ?

 

It must be him as in most places now there are no blocks !

 

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6 hours ago, Bender Rodriguez said:

58 official deaths, economy in the gutter, millions out of a job

 

it is not the virus that killed the economy (of the world)

 

but how the government panic-ed and blindly followed doomsday predictions

 

in the meantime, 7000 or is it 8000 road deaths ...

Even if the Thai government didn't shout down, the tourism industry was doomed anyway as no one would / could come to Thailand due to issues with fights, travel insurance, quarantining when going home etc.   

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Quote

Next year COVID-19 would cause severe contraction to 60% of the global economy and it would take 2-3 years for economic restoration.

Where the guy said 60% of the global economy will be affected I think to what he meant was that 60% of the global economy would be affected "to some degree" 

 

Maybe some examples to explain.  6 out of 10 businesses, 6 out 10 people, 6 out of 10 business sectors would be affected, etc.     And of course in any economic down, some folks and businesses are not affected....some will even profit.

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On 8/3/2020 at 11:10 AM, Pib said:

And of course in any economic down, some folks and businesses are not affected....some will even profit.

I would expect to see globalisation increase, exponentially, over the next 18 months.

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On 8/2/2020 at 12:08 PM, RichardColeman said:

Was this guy promoted directly to president from the guy who puts the disinfectant blocks in urinals  ?

Isn't a General in the Thai Army now in charge of pitting disinfectant blocks in urinals?   🙂

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