Thai business associations revise 2022 GDP forecast and raise inflation outlook

A leading Thai business conglomerate said today that the economy is expected to grow by 2.75% to 3.5% this year compared to the previously forecast 2.5% to 4.0%. This took into account higher inflation and the global recession.

The group, which is made up of representatives from industry, banking and commerce, expects headline inflation to be between 5.0% and 7.0% this year, up from the June forecast of 3.5% to 5.5%.

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