Thai central bank expects GDP growth of 3.3% in 2022

• Nov 03, 2022

BANGKOK: Thailand’s central bank expects the country’s economy to grow by 3.3% this year.

This was the view expressed by its deputy governor Mathee Supapongse, who said that it would be supported by consumption and the return of tourists.

Mathee, who was speaking at a business seminar in the Thai capital, added that the economy should expand by 3.8% next year. Both estimates are unchanged from earlier forecasts.

Tourism is a key driver of the Thai economy and brought in 1.91 trillion baht (US$50.81bil or RM240.9bil) in 2019 when the country saw 40 million arrivals.

“We expect to received 21 million tourists next year,” Mathee said, adding that monetary policy would be accommodating to the recovery.

The weakening baht currency has not had a significant impact on the economy, he said, adding that a current account surplus would support baht stability.

The central bank earlier this week ended policies that were aimed at reducing the impact of the pandemic, including measures that supported the real estate sector and corporate bond liquidity. — Reuters