Thailand’s economy sees biggest second quarter contraction since Asian financial crisis

Thailand’s economy saw its biggest annual contraction in 22 years and a record quarterly fall in the April-June period, as the coronavirus pandemic and restriction measures hit tourism, exports and domestic activity, prompting an outlook downgrade.Southeast Asia’s second-largest economy, which is heavily reliant on tourism and exports, shrank 12.2 per cent in the second quarter from a year earlier, the worst contraction since the Asian financial crisis in 1998, data from the state planning…

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