In Phuket, Thailand (Photo: AFP) Bangkok (VNA) – Thailand’s economy is expected to recover in 2022, growing 2.8-3.7percent, depending mostly on the severity of the Omicron variant, according toKasikorn Research Centre (K-Research).
BangkokPost quoted Nattaporn Triratanasirikul, K-Research deputy managingdirector, saying that more stringent travel restrictions and hygiene measuresadopted by various countries, including border closures, reflect global anxietyregarding the severity of the new coronavirus variant.
K-Research projected two scenarios assuming thespread of the Omicron strain will subside by the end of the first quarter of 2022and the government will not tap additional off-budget borrowing.
If the Omicron variant spreads rapidly but proves less severe than the Deltastrain, and COVID-19 vaccines now available are effective in curbing severeillness, Thailand may not be required to re-impose lockdown measures.
Under this scenario, the Thai economy mayremain on a recovery path and grow 3.7 percent in 2022, supported by exports, arebound in household spending and improved tourism by the end of 2022.
In the worst-case scenario, Thailand's economic growth is projected totally only 2.8 percent in 2022. This projection assumes the impact ofthe Omicron variant proves as severe as that of the Delta variant, and theefficacy of existing vaccines drops substantially.
Nattaporn said K-Research gives the most weightto the first case.
Meanwhile, Thai GovernmentSpokesperson Thanakorn Wangboonkongchana recently said that Thailand is on track toachieve an economic growth of around 1.2 percent this year, and is likely togrow by 3.5 - 4 percent next year./.
