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Thai economy likely to grow 2.5 to 3.5% in 2010

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The Thai economy is projected to grow 2.5-3.5 per cent this year, boosted by an increase in tourism activities, exports and investment, according to a leading academic economist.

Anusorn Tamajai, dean of Rangsit University’s Faculty of Economics, forecast the economy will continue to enjoy impressive growth of 6 per cent in the first quarter of this year from 5.8 per cent in the fourth quarter last year.

But after that, he said, the economy is likely to grow at a slower pace due to higher inflation rates, rising interest rates, fiscal measure constraints, and global economic uncertainties.

Overall, tourism, exports, and investment would benefit from the quick recovery of both Asian and US economies. Still, some regions, particularly Europe, might have difficulties with economic recovery.

Dean Anusorn suggested the Thai government not lift economic stimulus measures for this moment. Instead, it should prepare and opt to count on them in a proper time because the Thai economy remains vulnerable to political instability.

via Thai economy likely to grow 2.5-3.5% this year: leading academic.

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

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Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

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Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

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BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

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