snoop1130 Posted May 17, 2022 Share Posted May 17, 2022 Foreign tourists walk along the popular Khaosan Road in Bangkok on May 17, 2022. Thailand’s economy grew 2.2 percent in the first quarter following an export and tourism boost after the relaxation of pandemic entry restrictions, the kingdom’s main economic agency said May 17. Lillian SUWANRUMPHA / AFP The National Economic and Social Development Council (NESDC) has decided to cut Thailand’s gross domestic product (GDP) growth projection for 2022 to between 2.5% and 3.5%, or an average of 3%, from earlier projection of between 3.5% and 4.5%, due to uncertainties over the conflict in Ukraine, according to NESDC Secretary-General Danucha Pichayanan. Danucha said, however, that growth in the first quarter of this year was 2.2%, thanks to the easing of lockdown measures and the resumption of various economic activities, with consumption and exports expanding 3.9% and 10.2% respectively, but construction activity reduced by 5.5%. Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe He added that the NESDC has been closely monitoring the situation in Ukraine, which has affected the energy and production sectors, especially fertilizer and wheat, the prices of which have jumped up. Full Story: https://www.thaipbsworld.com/thailands-gdp-growth-2022-projection-cut-to-3-2-2-recorded-for-q1/ -- © Copyright Thai PBS 2022-05-17 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Link to comment Share on other sites More sharing options...
ThailandRyan Posted May 17, 2022 Share Posted May 17, 2022 It's not just the uncertainty from the Ukraine conflict. Can't these folks think outside of what feces is being fed to them.... 1 Link to comment Share on other sites More sharing options...
Eric Loh Posted May 17, 2022 Share Posted May 17, 2022 6 minutes ago, ThailandRyan said: It's not just the uncertainty from the Ukraine conflict. Can't these folks think outside of what feces is being fed to them.... Would love to hear your thoughts. 1 Link to comment Share on other sites More sharing options...
ThailandRyan Posted May 17, 2022 Share Posted May 17, 2022 8 minutes ago, Eric Loh said: Would love to hear your thoughts. Think about where they export to and import from, then start to think about why certain items from the US, Europe or even China are getting hard to source such as food products. Why is it becoming hard for exporters as well as importers. It's global not just from Ukraine or Russia. 1 Link to comment Share on other sites More sharing options...
Paul Henry Posted May 17, 2022 Share Posted May 17, 2022 Optimistic thinking if they believe GDP will average 3% for the year 22. Two quarters are nearly over so to get the icrease they are looking for in the next six months is probably pie in the sky. These figures can only help to bring the baht back from its proped up value. Link to comment Share on other sites More sharing options...
hotchilli Posted May 18, 2022 Share Posted May 18, 2022 14 hours ago, snoop1130 said: The National Economic and Social Development Council (NESDC) has decided to cut Thailand’s gross domestic product (GDP) growth projection for 2022 to between 2.5% and 3.5%, or an average of 3%, from earlier projection of between 3.5% and 4.5%, due to uncertainties over the conflict in Ukraine, according to NESDC Secretary-General Danucha Pichayanan. Thailand has a strange idea that the world will open up and things will return to Pre-Covid level immediately. Things are going to be steady for a long time yet while people wait to see what happens globally, lots of people are still suffering financially, not investing or thinking about holidays. Also inflation will stall any fast increases. 1 Link to comment Share on other sites More sharing options...
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