Thailand’s GDP Grows by 2.2%, Boosted by Stimulus Measures

The Office of the National Economic and Social Development Council (NESDB) reported that GDP increased by 2.2% in the first quarter of 2022, increasing from 1.8% in Q4 21.

The non-agricultural sector expanded, positively influenced by various government measures to stimulate the economy and to relax various COVID-19 measures, including those related to domestic and international travel.

In addition, the NESDB lowered its forecast for the Thai economy in 2022 to 2.5-3.5% with a median value of 3% compared to the previous forecast of 3.5-4.5% as the global economy tends to weaken due to the conflict between Russia and Ukraine and rising energy prices which also affect the inflation rate.

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