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.

Thailand’s Ministry of Finance expects 3.5 to 4.5% economic growth in 2022

For next year, the Ministry of Finance is projecting an economic growth of 3.5-4.5% from effective pandemic control measures, incentives, domestic spending, the export sector, private investment support, global economic recovery, and government expenditures.

Thai Economy bottomed out in Q3 2021 says Bank of Thailand

The Thai economy would expand at a pace close to the previous projection for 2021 and 2022 on the back of domestic spending that gradually recovered following the relaxation of containment measures, partially offsetting the adverse impact of higher global energy prices.

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.

S&P maintains Thailand’s credit rating at BBB+ with stable outlook

Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.

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.