Thailand’s economy projected to grow 2.8-3.7 pct in 2022
Bangkok (VNA) – Thailand’s economy is expected to recover in 2022, growing 2.8-3.7
percent, depending mostly on the severity of the Omicron variant, according to
Kasikorn Research Centre (K-Research).
Bangkok
Post quoted Nattaporn Triratanasirikul, K-Research deputy managing
director, saying that more stringent travel restrictions and hygiene measures
adopted by various countries, including border closures, reflect global anxiety
regarding the severity of the new coronavirus variant.
K-Research projected two scenarios assuming the
spread of the Omicron strain will subside by the end of the first quarter of 2022
and the government will not tap additional off-budget borrowing.
If the Omicron variant spreads rapidly but proves less severe than the Delta
strain, and COVID-19 vaccines now available are effective in curbing severe
illness, Thailand may not be required to re-impose lockdown measures.
Under this scenario, the Thai economy may
remain on a recovery path and grow 3.7 percent in 2022, supported by exports, a
rebound in household spending and improved tourism by the end of 2022.
In the worst-case scenario, Thailand's economic growth is projected to
tally only 2.8 percent in 2022. This projection assumes the impact of
the Omicron variant proves as severe as that of the Delta variant, and the
efficacy of existing vaccines drops substantially.
Nattaporn said K-Research gives the most weight
to the first case.
Meanwhile, Thai Government
Spokesperson Thanakorn Wangboonkongchana recently said that Thailand is on track to
achieve an economic growth of around 1.2 percent this year, and is likely to
grow by 3.5 - 4 percent next year./.