While analysts have said that the prime minister has failed to end Thailand’s divisions, he said that the economy “should help gain us the support so that there is greater stability”.
Abhisit said that the Thai economy surged strongly in the final quarter of 2009. Instead of a projected contraction of three per cent for the year, he said it could be restricted to minus 2.8 per cent.
The protests last year brought Bangkok airport to a standstill trapping many foreign tourists. But Abhisit said “In December we actually had a record high number of tourists coming to Thailand. 1.6 million.”
“We have projected this year’s (economic) growth at 3.5 per cent but we are now confident we can do better than that,” the prime minister said.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
World Bank cuts Thailand’s GDP growth outlook to 1% in 2021
The World Bank has said that Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors.
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