Thailand’s economy is expected to sustain growth, thanks to the well-performing tourism sector, according to Siam Commercial Bank’s Economic Intelligence Center (SCBEIC).

 

The center expects Thailand’s economy to receive a positive push from the tourism sector, in which more foreign visitors are to visit the country during the country’s peak tourism season in Q4, helping create more jobs within the sector.

 

The export sector, which is considered a key economic driver, is showing growth. The sector’s performance, as well as the performance of export-related industries, is expected to slow down in line with the global economy.

 

Consumption by private firms is showing positive signs in almost every category. The center expects the inflation crisis to have passed its peak and that the inflation rate to gradually decrease in line with the decreasing fuel prices.

 

Meanwhile, the flooding disaster which has affected several parts of the country this year will cause some 12 billion baht in damages, which is still lower than the figure in 2011.

 

SCBEIC expects Thailand’s Monetary Policy Committee to continue to gradually increase the country’s policy interest rate to 2%. Thailand’s economy is to perform at a pre-pandemic rate by mid-2023.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221017161900503

 

-- © Copyright NNT 2022-10-17

 

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12 hours ago, snoop1130 said:

Thailand’s economy is expected to sustain growth, thanks to the well-performing tourism sector

Right...........

 

Enjoy the small blip while you can, if the world hits more recessions you'll be back at stage one again 

no tourists to some, can be considered growth...

but nothing compared to pre-pandemic era, in the near future

17 hours ago, snoop1130 said:

The export sector, which is considered a key economic driver, is showing growth. The sector’s performance, as well as the performance of export-related industries, is expected to slow down in line with the global economy.

In the region where I live, there is already a sharp dive in Factory output.

Workers on short time, shifts cancelled, and in some cases lay offs.

A lot worse to come me thinks

 

it was also a 0 covid politic for more of one year with many consequences, now all the world will be in a recession in 2023 Thailand no and now growing and growing, i hope so but sometimes wisdom and transparency are more of necessary.