The Bank of Thailand (BoT) is optimistic that the Thai economy will continue to recover in the first quarter of this year.
Chayawadee Chai-Anant, senior director of the BoT, stated that, despite several uncertainties in the first few months of 2022, the country’s economic outlook continues to remain on a recovery trajectory for the first quarter of this year. She stated that the export and tourism sectors were critical in keeping the Thai economy on track for recovery.
According to Chayawadee, foreign tourist arrivals increased in February due to the government’s relaunch of the Test and Go program. Meanwhile, merchandise exports increased 0.9% month on month, with indications of further recovery from the electronics and automobile export sectors.
The BoT senior director stated that the central bank expects the economy to continue its recovery in the second quarter if the number of Omicron cases peaks during the Songkran holidays and declines after April. She added that the central bank will keep a close watch on the outbreak as well as other uncertain factors such as the Russia-Ukraine conflict and the global energy crisis. (NNT)
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