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Top business group retains 2022 GDP outlook despite Omicron

FILE PHOTO: Supant Mongkolsuthree, chairman of the Joint Standing Committee on Commerce, Industry and Banking (JSCCBI) (Photo supplied)

Thailand’s leading joint business group on Wednesday said it has maintained its economic growth forecast at 3.0% to 4.5% this year, despite a rise in coronavirus infections driven by the Omicron variant.

While the virus outbreak had slowed economic activity early in the year, the overall impact is not expected to be severe, said the Joint Standing Committee on Commerce, Industry and Banking (JSCCBI). 

However, higher inflation is a concern since it could hit 3% in the first half and mean the economy expands less than expected, JSCCBI chairman Supant Mongkolsuthree told a news conference.

Headline inflation was at 2.17% in December.

The group is sticking to its forecast…

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