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Thai economy to grow 3% this year, 3.7% next year

Tourists and locals shop at Cicada market in Hua Hin, Prachuap Khiri Khan province, on May 14, 2022. (Photo: Varuth Hirunyatheb)

Thailand’s economy is expected to grow by 3% this year and 3.7% next year, driven by exports, increased domestic demand and a recovery in tourism, the state planning agency said on Wednesday.

Exports, a key driver of growth, still had momentum despite the impact of Russia’s invasion of Ukraine on the global economy, Danucha Pichayanan, head of the National Economic and Social Development Council (NESDC), told a business seminar.

“The Russia-Ukraine issue is a risk but it’s also an opportunity, such as for food (exports),” Mr Danucha said.

Southeast Asia’s second-largest economy will also be helped by…

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See also  COVID-19 situation in Thailand as of 20 March 2021
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