HomeBusinessThai business group retains 2022 GDP outlook despite Omicron

Thai business group retains 2022 GDP outlook despite Omicron

BANGKOK : Thailand’s main joint business group on Wednesday mentioned it has maintained its financial progress forecast at 3.0per cent to 4.5per cent this 12 months, despite an increase in coronavirus infections pushed by the Omicron variant.

While the virus outbreak had slowed financial exercise early within the 12 months, the general affect just isn’t anticipated to be extreme, mentioned the group which spans trade, banking and commerce.

However, increased inflation is a priority because it might hit 3per cent within the first half and imply the economic system expands lower than anticipated, group chairman Supant Mongkolsuthree informed a information convention.

Headline inflation was at 2.17per cent in December.

The group is sticking to its forecast for overseas vacationer arrivals of 5 million to six million this 12 months, ready to see the outcomes of a resumption of a ‘Test & Go’ quarantine waiver, mentioned Supant, who can be head of the Federation of Thai Industries.

The determine compares with the almost 40 million vacationer arrivals recorded in 2019 earlier than the pandemic. There had been nearly 428,000 overseas vacationers in 2021.

(Reporting by Satawasin Staporncharnchai; Editing by Ed Davies; Writing by Orathai Sriring; Editing by Martin Petty and Ed Davies)

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