Bangkok (VNA), July 9 -- Thailand 's financial system has become more vulnerable due to the more-than-expected contraction of the country's economic outlook due to impacts caused by the COVID-19 pandemic, according to the Bank of Thailand (BoT).

At a meeting on July 8, the BoT assessed that the Thai economy will contract by 8.1 percent in 2020 but would expand by 5.0 percent in 2021 in tandem with a gradual improvement in both domestic and external demand.

The BOT's monetary policy committee deemed it important to prepare financial measures to continuously alleviate impacts on households and businesses, especially after the phase-outs of the batch of financial and credit measures.

According to the BoT, fiscal and credit measures, monet...