Thai economy likely to lose over 12 billion USD due to lockdown extension
The Thai Chamber of Commerce (TCC) estimates that extending the lockdown period and expanding the "dark red zone" to 29 out of 77 provinces nationwide will cost the economy about 300-400 billion baht (9.1-12.1 billion USD) due to the stagnation of economic activities.
Bangkok (VNA) - The Thai Chamber of Commerce (TCC)estimates that extending the lockdown period and expanding the "dark redzone" to 29 out of 77 provinces nationwide will cost the economy about300-400 billion baht (9.1-12.1 billion USD) due to the stagnation of economicactivities.
Thailand’s Centre for COVID-19 Situation Administration(CCSA) said the Government has extended lockdown measures for two more weeks inhigh-risk areas and included 16 provinces to the “dark red zone” to control thesurge in COVID-19 cases.
In the next two weeks, the curfew will start from 9pm to 4am the next day, as well as other tough measures will be implemented in Bangkokand 28 provinces, a CCSA representative said.
According to TCC President Sanan Angubolkul, losses fromlockdown and control measures in 29 "dark red zone" provinces areestimated at 300-400 billion baht per month. As these provinces are businesscentres and locations of industrial zones.
President of the Federation of Thai Industries (FTI) Suphan Mongkolsuthree saidthat the "dark red zone" provinces account for 70-80 percent of thecountry's overall production capacity. The increase in preventative and controlmeasures will further hamper economic activity.
Last week, Thailand's Ministry of Finance lowered its economic growthforecast for the third time this year from 2.3 percent to 1.3 percent for 2021,as the third wave of COVID-19 in the country has caused a spike in the numberof new cases and daily deaths.
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Illustrative image (Photo: AFP/VNA) 
