The latest EAST ASIA AND PACIFIC ECONOMIC UPDATE APRIL 2020 “East Asia and Pacific in the Time of COVID-19 is available from the World Bank website and from the link provided here.
The World Bank report analyse the economical impact of the COVID-19 crisis also country by country including Thailand. Most of the economical expectations seen and read from the medias the last months are confirmed in the report. Especially Thailand and Malaysia are forecasted to be affected hard by the current COVID-19 crisis.
The biggest immediate economic costs of COVID-19 are primarily due to the preventive behavior of individuals and
the transmission control policies of governments. These actions first hit the Chinese economy, by disrupting supply and
freezing demand, and other partner economies by limiting flows of trade and tourists. As the virus spreads beyond China,
citizens and governments of many other countries are reacting by taking similar action, which is hitting demand and
supply in these countries in turn. That is amplifying the mutual shocks through not just flows of trade and tourists, but
also finance.