Thailand’s central bank’s chief said that economic recovery is likely intact and inflation should ease next year, expecting economic growth to expand 3.3% this year and 3.8% next year, according to the Bank of Thailand Governor Sethaput Suthiwartnarueput speaking at a business seminar on Wednesday.
The central bank forecast headline inflation of 6.3% for this year and 2.6% next year, while the target range for the Thai central bank is 1% to 3%.
To ease inflation and weak Thai baht, the central bank resolved last week to increase the kingdom’s interest rate by a quarter point to 1.00%.
As a key supporter for the economic recovery, Thailand expects to welcome 9.5 million foreign tourist arrivals this year and 21 million next year, though still a ways to go to reach 40 million tourists in pre-pandemic years.
