Thailand's industries sentiment in April hit its lowest in eight months in the wake of the country’s worst coronavirus outbreak, and the government should borrow 1 trillion baht more to support the economy, the Federation of Thai Industries (FTI) said on Monday.
The FTI said its Thai industries sentiment index dropped to 84.3 last month from 87.3 in March.
The index for the next three months also fell, suggesting the outbreak is likely to drag on longer amid the slow rollout of vaccines, FTI chairman Supant Mongkolsuthree told a briefing.
"Overall sentiment tumbled as the outbreak has been very severe... with no signs of subsiding," he said.
Despite no official lockdown being declared, restrictions to curb the spread have hit trade, investment, tourism and spending, Mr Supant said.
The government on Monday reported 1,630 new infections and 22 new deaths, taking total cases in Thailand to 85,005 and fatalities to 421.
Most of the Covid-19 infections and deaths have been recorded during the latest outbreak, which was first detected at the end of March.
The FTI suggested the government borrow another 1 trillion baht to support the economy as its current 1 trillion baht borrowing plan is running out.
"I've said two trillion baht. One trillion baht is not enough as the situation is changing," Mr Supant said.
On Monday, the state planning agency said it had discussed with relevant government agencies ways to support future government measures after the current 1 trillion baht borrowing is used up.
So far 763 billion baht has been approved, with 650 billion spent.
If the government needs to borrow more for economic measures, it will be done carefully,
taking into account financial conditions, the finance ministry said in a statement on Monday.