Thailand’s economic activity in March came under pressure from rising coronavirus infections and higher inflation driven by increasing energy prices, after a recovery in the previous month, the central bank said on Thursday.
Overall business activity was steady in March, while the baht depreciated following an escalation of the Russia-Ukraine conflict, the Bank of Thailand (BoT) said.
Southeast Asia’s second-largest economy should, however, remain on the recovery path, senior BoT director Chayawadee Chai-Anant told a news conference.
The economy in “the first quarter recovered but not strikingly, compared with a very good fourth quarter,” she said, adding the recovery was expected to continue in the second quarter of this year.
The economy grew a faster-than-expected 1.9% in the fourth quarter of 2021 from a year earlier.
On Wednesday, the BoT trimmed its 2022…
