Thai economy faces scrutiny amid recession fears and slow pandemic recovery

The Thai economy is in the spotlight as concerns over a looming recession persist due to the nation’s weak export outlook and slow recovery from the pandemic.

Last week, the government faced heavy criticism from opposition parties and business leaders during a Thai economy policy debate, with the latter expressing concerns over the lack of detail in the 43-page policy statement on economic recovery plans.

The government’s stimulus projects like the 10,000-baht digital wallet scheme, which requires an estimated 560 billion baht budget, have raised questions about the sourcing of funds. Despite this, independent political and economic analyst, Somjai Phagaphasvivat, argued that there are no signs of a recession in the Thai economy.

“The chance of a recession is very low unless there is an economic crisis, such as a rapid surge in energy…