Bangkok (VNA) - Thailand's National Economic and Social Development Council (NESDC) reckoned that the Thaieconomy can be affected by three scenarios taking into account the ongoingRussia-Ukraine war and other geopolitical conflicts.
NESDCDeputy Secretary General Wichayayuth Boonchit said the first and most probablescenario is that if the Russia-Ukraine war continues but the global oil supply isnot affected by sanctions against Russia, Thailand’s economyshould expand between 2.5 and 3.5% this year.
In thesecond but less probable scenario, he said the Thai economy will grow lessthan expected in 2022-2023 if more sanctions are slapped on Russia. This willresult in a surge in the global price of oil and other products.
Thethird and worst scenario is that if a conflict is sparked between the US and China.Wichayayuth said this conflict will spark a global economic recession dependingon the intensity of this and other geopolitical conflicts.
Meanwhile, the JointStanding Committee on Commerce, Industry and Banking predicted that theThai economy will grow by 2.75 – 3.5% this year on the back of rising exports,tourist arrivals and Government support./.
Thailand approves agricultural plan for Eastern Economic Corridor provinces
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