The effects of sanctions against Russia would not derail the overall economic recovery path said the Bank of Thailand in its latest issue of the minutes of the Monetary Policy Committee Meeting.
The direct impacts on the Thai economy were limited since the value of exports to Russia in 2021 was only 0.4 percent of total exports and Russian tourists accounted for only 4 percent of total foreign tourists before the pandemic.
Edited Minutes of the Monetary Policy Committee Meeting (No. 2/2022) 25 and 30 March 2022, Bank of Thailand Publication Date: 12 April 2022
Nevertheless, the Bank of Thailand also expressed concerns that the escalation of the Russia-Ukraine war might lead to global geopolitical tensions that pose uncertainties in the future. These would aggravate global supply chains that had yet to resume their pre-pandemic functioning or would reshape global trade and investment…
