Thailand’s joint business group on Tuesday lowered down gross domestic product growth in 2022 to between 2.5 and 4.0 percent from 2.5 to 4.5 percent, warning that the Thai economy’s recovery remains vulnerable to local and international risks.
The group also revised its forecast for headline inflation this year to 3.5-5.5 percent from 2.0-3.0 percent and maintained its projection for export growth at 3.0-5.0 percent.
Thailand’s economy continues to face lots of challenges, but is expected to grow due to huge efforts by both the public and private sectors to adapt in order to live with COVID-19, something that contributes to the Thai economy to recover despite ongoing pressure from inflation, which is expected to reach its highest level in ten years, according to the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB).
