A family fleeing from Ukraine arrives at Nyugati station in Budapest, Hungary, on Sunday after Russia launched a massive military operation against Ukraine. (Reuters photo)
Higher inflation and a sluggish economy are looming this year following the Russian invasion of Ukraine, says the Federation of Thai Industries (FTI).
The Russian attack on Ukraine drove energy prices higher and led to sanctions from the US and its allies. Thailand is still struggling to recover from the downturn caused by the pandemic, said FTI vice-chairman Kriengkrai Thiennukul.
He said the domestic economy may not reach the growth target of 3-4.5% this year set by the Joint Standing Committee on Commerce, Industry and Banking.
Russia is a major gas exporter. One-third of gas supply to European countries comes from Russia.
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