The Thai economy is expected to begin recovering in the first half of this year as a result of stimulus measures, infrastructure development, and the government’s improved management of the Covid-19 pandemic.
Deputy Prime Minister Supattanapong Punmeechaow stated that overall business sentiment is improving, citing a recent survey conducted by the Japanese Chamber of Commerce in Bangkok on business sentiment among Japanese companies in Thailand, which shows that sentiment is expected to rise to its highest level in seven years.
He stated that stimulus measures such as the restart of the Test & Go tourism scheme on February 1 will assist resuscitate the tourism industry, which the Tourism and Sports Ministry expects to see approximately 8 million tourists visiting the country this year.
The Deputy Prime Minister stated that rising oil and commodity prices are problems that may hinder economic growth and that the government is working hard to address these challenges. The National Oil Palm Policy Committee, chaired by Deputy Prime Minister Prawit Wongsuwon, is slated to endorse a proposal to cut the amount of palm oil-derived methyl ester blended in diesel to 5% during its meeting tomorrow. The reduction may not lower the price of fuel, but it will aid the national Oil Fund, which is backed by 20 billion baht in commercial bank loans as it subsidizes the diesel price cap.
Meanwhile, the National Economic and Social Development Council (NESDC) has scheduled February 21, 2022, as the date for the release of Thailand’s economic data for the fourth quarter of 2021, as well as the country’s economic forecast for 2022.
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