The COVID-19 omicron variant outbreak will have a limited impact on Thailand’s economy in the first quarter of this year, before starting to recover in the second quarter, the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) said on Wednesday.
JSCCIB maintains its forecast for economic growth in 2022 at 3-4.5 percent, with exports expanding by 3-5 percent and inflation at 1.2-2 percent.
“Although the omicron variant of coronavirus spreads more rapidly than other variants, it tends to cause milder symptoms and fewer deaths. Moreover, the number of infection rate is lower than expected at 10,000 cases per day,” said Sanan Angubolkul, chairman of JSCCIB
“We are confident that the country’s health care system is prepared, and that the omicron will not be severe enough to cause the country to enter another lockdown. We predict that the omicron variant’s impact on the economy will be seen only in the first quarter of 2022, then the recovery will start in the second quarter.” he added.
