World Bank keeps Thai GDP growth outlook at 2.9% this year

29/6/2022 5:23:00 AM

World Bank keeps Thai GDP growth outlook at 2.9% this year

World Bank keeps Thai GDP growth outlook at 2.9% this year

BANGKOK : Thailand's economy is expected to grow 2.9 per cent this year, unchanged from a forecast in April, supported by private consumption and tourism recovery, the World Bank said on Wednesday.Southeast Asia's second-largest economy is projected to reach pre-pandemic levels in the fourth quarter of 20

BANGKOK : Thailand's economy is expected to grow 2.9 per cent this year, unchanged from a forecast in April, supported by private consumption and tourism recovery, the World Bank said on Wednesday.Southeast Asia's second-largest economy is projected to reach pre-pandemic levels in the fourth quarter of 2022, given a decline in COVID-19 cases and relaxation of border restrictions, the Washington-based lender said in a statement.

The number of tourist arrivals is expected to climb to 6 million this year, up from 0.4 million in 2021, and reach 24 million, or around 60 per cent of pre-pandemic levels, by 2024.As a result, growth is projected at 4.3 per cent for 2023 and 3.9 per cent for 2024, the World Bank said.

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Thai economy growing, policy to be adjusted to tackle inflation-central bankBANGKOK : Thailand's economy will continue growing this year and next, driven by a recovery in domestic demand and tourism, the central bank said on Monday.The recovery has been clearer and could be better than expected while there is a greater risk inflation will be higher than projected, the Bank of Tha

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LinkedIn BANGKOK : Thailand's economy is expected to grow 2.LinkedIn BANGKOK : Thailand's economy will continue growing this year and next, driven by a recovery in domestic demand and tourism, the central bank said on Monday.LinkedIn JAKARTA : Indonesia's central bank will be"all out" with measures to keep inflation low, including adjusting interest rates if it sees signs of core inflation accelerating, a senior official said on Monday.LinkedIn HONG KONG : In 1997, the world watched as Britain returned Hong Kong to Chinese rule, with some pessimistic or wary about the outlook for the city and its role in the global financial system.

9 per cent this year, unchanged from a forecast in April, supported by private consumption and tourism recovery, the World Bank said on Wednesday. Southeast Asia's second-largest economy is projected to reach pre-pandemic levels in the fourth quarter of 2022, given a decline in COVID-19 cases and relaxation of border restrictions, the Washington-based lender said in a statement. Monetary policy should be adjusted in a timely manner to keep inflation expectations anchored, they said. The number of tourist arrivals is expected to climb to 6 million this year, up from 0. Source: Reuters.4 million in 2021, and reach 24 million, or around 60 per cent of pre-pandemic levels, by 2024. As a result, growth is projected at 4." On Friday, Hong Kong reaches the halfway mark of a 50-year experiment designed to give the city a high degree of autonomy under Chinese rule.

3 per cent for 2023 and 3.9 per cent for 2024, the World Bank said. After maintaining a policy rate at a historical low throughout the pandemic, there is now increased scope for the Thai central bank to commence interest rate normalisation, the agency said. Given Thailand's oil dependence and vulnerability to global supply chain disruptions, adopting a more circular economy approach could help promote growth that is more sustainable and more resilient to external shocks, the World Bank said. Source: Reuters .52 trillion) as of end-June, up from HK$3.