Thailand’s leading joint business group on Monday revised its economic growth projection for the year 2022 to a range of 2.75-3.5 percent, while headline inflation rate is expected to be between 5-7 percent.
The Joint Standing Committee on Commerce, Industry, and Banking agreed on Monday to trim Thailand’s economic growth forecast for 2022 from 2.5-4.0 percent in June to 2.75-3.5 percent, citing the global economy’s risk of recession, particularly in the United States and Europe, amid rising inflation.
At the meeting on Monday, the Group also raised its inflation forecast for 2022 to 5-7 percent, up from 3.5-5 percent, while exports are forecasted to expand by 5-7 percent, up from 3-5 percent, as the Thai baht continued to weaken.
