Bank of Thailand governor Veerathai Santiprabhob (Photo by Jetjaras Na Ranong)Concerns over the economy entering a technical recession have overshadowed the importance of addressing possible adverse effects on employment from the Covid-19 outbreak, says the Bank of Thailand. If we realise it is a technical recession, it is only a technical calculation," central bank governor Veerathai Santiprabhob told the Bangkok Post in an exclusive interview. A technical recession is defined as two straight periods of quarterly contraction. After a 2.5% rise in tourist arrivals in January, February's figures likely slumped 40%, and a deeper decline is expected in March and April, Tourism Authority of Thailand governor Yuthasak Supasorn told Reuters. At this point, I think we all should realise that there is no one solution.

Source: Bangkok Post March 02, 2020 23:26 UTC