Thailand’s economic growth is expected to grow 3.0-3.5% in 2022, according to an estimate of the finance ministry Arkhom Termpittayapaisith on Monday.
In his statement to a state agency forum, he noted that Thailand’s post-pandemic economy will be in a slow but steady recovery. Public investments will help push the Thai economy forward, while state investment projects will be accelerated to support the recovery as well.
Last month, Thailand’s Fiscal Policy Office maintained its GDP growth forecast for the year 2022 at 3.5 percent as domestic economic activity and the tourism sector are on the path to recovery.
The Thai economy is expected to grow at a rate of 3.5 percent this year (within a range of 3.0 – 4.0 percent), as domestic demand and tourism sector are recovering, which has seen most entry restrictions eased and the Thailand Pass registration for international tourists has been scrapped from 1 July 2022.
According to Pornchai Thiraveja, director-general of the Fiscal Policy Office, this leads to an increase in household income and tourism-related economic sectors.
However, the impact of the Russian-Ukrainian conflict and the monetary policies of the world’s leading economies should still be closely monitored.
Reuters Poll indicated a 3.4% GDP growth for Thailand this year before accelerating 4.1% in 2023.
