Thai economy may grow 4% this year
Bangkok (VNA) – Thailand's
economy could grow as much as 4% this year, the fastest rate in five years, thanks
to the recovery of the tourism sector and domestic consumption, Thai Deputy
Prime Minister and Energy Minister Supattanapong Punmeechaow said on February 1.
New investments are expected to
make a positive contribution to the country’s Gross Domestic Product (GDP), Supattanapong,
who is in charge of economic affairs, told a seminar.
"The economy will
definitely be better than last year despite some impact from energy
prices," he said, adding that the economic situation is in recovery
and will soon return to normal.
Last week, the Thai Finance
Ministry maintained its economic growth outlook for 2023 at 3.8% but cut its 2022
growth estimate to 3% from 3.4% as exports weakened.
Official GDP figures for 2022
will be released by the Thai government on February 17.
Thailand's Joint Standing Committee
on Commerce, Industry and Banking (JSCCIB) said on February 1 that the Thai
economy is still expected to expand 3-3.5% this year, unchanged from its previous forecast, as tourism picks up but exports slow.
A strong baht and a global
slowdown continue to pressure exports, the committee said, adding that the
Southeast Asian nation’s economy was estimated to grow 3.2% last year./.