Thailand’s GDP will take 2 years to recover


Finance Minister Arkhom Termpittayapaisith says the country’s GDP will take 2 years to recover the 9% and It would have expanded by 3% this year if it weren’t for the pandemic.

If Thailand’s GDP growth could arrive at 4% in the next 2 years this would increase the country’s economic growth momentum to return to a normal ratio.

the National Economic and Social Development Council (NESDC) says Thailand’s GDP compressed by 6.4% year-on-year in the third quarter, with full-year economic contraction projected to arrive at 6%. The economy was previously forecasted to contract by 7.5% this year.

Mr Krisada Chinavicharana says the Thai economy is expected to recover progressively. Hoping that the global economy will help to push forward the recovery next year.

Arkhom Termpittayapaisith says the government has 30% fiscal space left in its 2021 budget that percentage is about 980 Badh worth of assets. for the 2022 budget, it is in development to support economic growth through public investments in infrastructure and energy.

Source: Bangkok Post