KResearch cut its GDP prediction due to impacts from Russia-Ukraine War

[webfact]

 

By Erich Parpart

 

Kasikorn Research Center (KResearch) slashed their economic growth projection for Thailand down to less than 3 per cent for 2022 after Russia’s invasion of Ukraine led to higher energy and commodity prices.

 

“Besides the ongoing outbreak of new Covid variants, the Russia-Ukraine crisis is also affecting Thailand’s economic recovery via rising energy and commodity prices including industrial metals and agricultural commodities that are being used as raw material for productions,” Nattaporn Triratanasirikul, KResearch Assistant Managing Director, said in a statement on Friday.

 

After observing impacts from the war, the research center cut its GDP prediction for 2022 down from 3.7 per cent to 2.9 per cent.

 

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Full story: https://www.thaienquirer.com/38928/kresearch-cut-its-gdp-prediction-due-to-impacts-from-russia-ukraine-war/

 

-- © Copyright Thai Enquirer 2022-03-26

 

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[Soikhaonoiken]

So nothing to do with the lack of tourists then, which is due to the stupid restrictions and hoops to jump through...

[hotchilli]

4 hours ago, webfact said:

“Besides the ongoing outbreak of new Covid variants, the Russia-Ukraine crisis is also affecting Thailand’s economic recovery via rising energy and commodity prices including industrial metals and agricultural commodities that are being used as raw material for productions,” Nattaporn Triratanasirikul, KResearch Assistant Managing Director, said in a statement on Friday.

Maybe Thailand should have condemned Russia... instead of worrying about a few tourists not coming there commercial businesses are suffering.

[Excel]

Think that should be 0.3% given all of the issues facing Thailand, not just Ukraine, although in true Thai fashion it has to be blamed on anything and anyone other than themselves for facing an impending economic implosion.

[RichardColeman]

4 hours ago, webfact said:

Kasikorn Research Center (KResearch) slashed their economic growth projection for Thailand down to less than 3 per cent for 2022

That prediction is well in line with Thailand not opening up fully unrestricted this year, or at best Q4 for a dribble for X-mas

[MrJ2U]

4 hours ago, Soikhaonoiken said:

So nothing to do with the lack of tourists then, which is due to the stupid restrictions and hoops to jump through...

Thats being going on for 3 years.

 

Inflation and high prices for fuel can really knock economies more than a few PCR tests to many.

 

Im getting sticker shock lately when I fill up my truck or buy basic groceries.

 

Imagine someone earning 300-500 baht a day.   

 

Forget those long drives for a family holiday.

 

Many domestic flights are ridiculously expensive also.

Edited March 26, 2022 by MrJ2U

[jacko45k]

21 hours ago, MrJ2U said:

Im getting sticker shock lately when I fill up my truck or buy basic groceries.

Is your truck not diesel?

The price of that is holding. 

[Will B Good]

Things are certainly swirling around at the moment......very tempted to delay any major purchases for the foreseeable in the (very selfish) hope that the baht has a major wobble.

[MrJ2U]

15 hours ago, jacko45k said:

Is your truck not diesel?

The price of that is holding. 

Filled up my wifes Honda.

Great gas mileage!

 

Luckily its still 30 baht range for diesel.

 

I've just noticed a lot of our regular groceries have risen, mostly my wife pointing it out.

 

Lobster is luckily still 2800.00 baht a kilo though!