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Thai economy to keep growing amid inflation exceeding target, central bank says


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By Panithan Onthaworn

 

The Bank of Thailand (BoT) said on Monday the economy will grow in 2022 and 2023 thanks to domestic demand and tourism, despite inflation rising above its target range.

 

“Going forward, the recovery in domestic demand and tourism industry will be major drivers of the Thai economy,” assistant governor of the bank’s Monetary Policy Group, Piti Disyatat, told an analysts meeting.

 

The BoT’s current growth projection is 3.3 percent this year, followed by 4.2 percent in 2023.

 

However, Piti warned that there is a greater chance that inflation may be higher than anticipated, breaching the target range of 1-3 per cent. Thailand saw its biggest jump on inflation in almost 14 years in May, with a 7.1 per cent jump year-on-year. 

 

Full story: https://www.thaienquirer.com/41248/thai-economy-to-keep-growing-amid-inflation-exceeding-target-central-bank-says/

 

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-- © Copyright Thai Enquirer 2022-06-28

 

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Yeah, despite inflation!? Eeeh, they is generally what happens with a country the depend as much on export as Thailand do.

 

But, is it good development? NO!

Edited by Gottfrid
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8 hours ago, webfact said:

However, Piti warned that there is a greater chance that inflation may be higher than anticipated, breaching the target range of 1-3 per cent. Thailand saw its biggest jump on inflation in almost 14 years in May, with a 7.1 per cent jump year-on-year. 

A target range of 1 - 3 % !!!!

I guess these people been smoking the same pipe as TAT

Inflation is already at 7.1 % if these people are to be believed, but many believe it to be much higher.

More is to come for sure AIMO, Inflation will be nearer to 9 - 11 % by Year end possibly more.

Sounding optimistic is good, but sounding ignorant is very bad especially from such an Organization.

 

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