BoT says confidence key to spurring recoveryPublic confidence will be a key factor in boosting the economy after the government eased its strict Covid-19 pandemic restrictions, according to an executive at the Bank of Thailand (BoT). Ms Chayawadee said the BoT would monitor people's confidence regarding spending, travel and other economic activities after the containment measures were relaxed and stimulus measures to encourage domestic consumption were implemented. Domestic consumption in July declined from the previous month across all spending categories, due to the worsening pandemic situation and stricter containment measures. Ms Chayawadee said the BoT would closely monitor Thai exports amid higher external risks, especially trading partners' new infections. While some countries have adjusted their 2021 GDP growth forecasts, the BoT has already priced in such external risk factors for Thailand's export growth assessment.

Source: Bangkok Post August 31, 2021 23:48 UTC