Browsing Tag

economic growth

58 posts

Thailand Cuts 2022 GDP Outlook to 3.5% Over Russia-Ukraine War

The tourism-dependent country is on track to receive 6.1 million foreign visitors this year, but below the 7 million projected earlier due partly to the impact of China’s travel restrictions and the Ukraine conflict on Russian tourist numbers.

Sanctions against Russia should not derail Thailand’s economic recovery says BoT

The effects of sanctions against Russia should not derail the overall economic recovery path said the Bank of Thailand in its latest issue of the minutes of the Monetary Policy Committee Meeting.

Developing Economies risk “Hard Landing” in 2023 says World Bank

Growth in EAP is projected to decelerate to 5.1 percent in 2022, reflecting a slowdown in China. Thailand’s economy is expected to recover gradually over the next two years, with growth picking up in 2022 and strengthening to 4.3 percent in 2023.

Omicron key risk to Thailand’s economic recovery

The Omicron outbreak could have more widespread, severe, and prolonged effects than the baseline projection, depending on the severity of the situation and the strictness of containment measures.

World Bank keeps Thai growth outlook at 1% this year but expects 3.9% in 2022

Thailand’s economy is still expected to grow 1% this year due to the impact of a coronavirus outbreak, but growth is expected to accelerate to 3.9% next year, driven by a recovery in service sector activity, according to the World Bank.

APEC Region’s Economy to Grow by 6% in 2021

The economy of the APEC region is expected to grow by 6 percent in 2021 but the World Bank has slashed Thailand’s gross domestic product (GDP) projection for 2021 to just 1%, from 2.2% originally forecast, due to the impacts of the COVID-19 pandemic.

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.
Export growth better-than-expected in December 2020. However, amid the second wave of COVID-19 infections, exports could fall below previously forecasted levels in 2021.

Finance Ministry Reduces 2021 Growth Forecast to 2.3%

Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the ministry slashed its forecast for the number of foreign tourists to only 2 million this year from 5 million it had predicted three months ago.