Thailand’s economic recovery is strengthening, although rising inflationary pressures and slower global growth pose risks to the near-term rebound, according to Fitch Ratings’ analysts at its 2022 Thailand Sovereign and Bank Outlook Webinar.
Jeremy Zook, a Director of Asia-Pacific Sovereigns at Fitch said in his presentation that he expects Thailand to post GDP growth of 3.2% in 2022 and 4.5% in 2023, underpinned by steady improvements in tourism and domestic demand – while highlighting that higher inflation and slowing global growth were downside risks to the forecast. Thailand’s ‘BBB+’/Stable rating reflects the country’s sustained external finance strengths and a strong macroeconomic policy framework – which should help it to manage potential volatility amid tighter global credit conditions.
Zook said some other south-east Asian economies, such as Vietnam…
