Bank of Thailand raises policy rate by 0.25% from 0.75 to 1 Percent

The depreciation of the baht against the US dollar has been rapid and continuous due to the strengthening of the US dollar but is still in line with regional currencies.

IMF forecasts 2.8 percent GDP grow in 2022

Growth prospects critically hinge on the return of foreign tourists, while soaring energy prices due to the prolonged war in Ukraine could further weigh on private consumption and external demand

Thai GDP growth expected at 3% in 2022 (SCB)

The EIC expects however for the Thai economy to take another 2 years to recover at full speed, and for the country’s Monetary Policy Committee to further raise the policy rate at increments of 0.25%.

Thailand’s Growth disappoints despite boost from reopening

A breakdown of GDP showed that growth was uneven. Encouragingly, the recovery in household spending gained further traction, rising 6.9% y/y (1.7% q/q) following a more substantive easing in domestic and border restrictions.

Thailand to post GDP growth of 3.2% in 2022 and 4.5% in 2023 (Fitch)

Thailand’s economic recovery is strengthening, although rising inflationary pressures and slower global growth pose risks to the near-term rebound, according to Fitch Ratings’ analysts at its 2022 Thailand Sovereign and Bank Outlook Webinar.

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.

Thailand could Earn $3.4 Billion with Digital and Circular Economy says World Bank

The financial institution said in a statement that Thailand, a $544 billion economy before the pandemic hit, needs an innovation-led growth model. It added that the Kingdom needs to address existing foreign investment constraints in order to create better jobs and become a high-income nation.