BANGKOK (NNT) – Thailand has reduced its 2022 economic growth forecast to 3.5% from a previous forecast of 4.0%, due to the impact of the Russia-Ukraine war on global growth and inflation.
Pornchai Theeravet, head of the fiscal policy office under the Ministry of Finance, nevertheless told a news conference that the Thai economy will still be supported by higher domestic spending and a recovery in tourism, as well as exports.
“The economy is still growing, accelerating from last year’s 1.6% growth, but there remain risk factors.”
Pornchai Theeravet, head of the fiscal policy office under the Ministry of Finance
He added that the ministry is prepared to take fiscal and monetary measures to ensure continued and broad-based economic recovery.”
The ministry now expects exports – a key driver of Thai growth – to rise 6.0%…
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