IMF Trims Thailand’s Growth Forecast to 3.6% in 2022 and Warns of Inflation Danger

The International Monetary Fund (IMF) on Tuesday trimmed its global economic growth projection in 2022 from 4.4 percent to 3.6 percent amid the Russia-Ukraine war, and cautioned that inflation had become a “clear and present danger” for many countries.

IMF also lowered Thailand’s GDP growth prediction to 3.3 percent from 4.1 percent, in line with local institutions, citing that the war is expected to further increase inflation, and tightening of Western sanctions against Russia over energy exports would cause another major drop in global output.

The Fund warned that rising food, energy, and other prices might spark social unrest, particularly in vulnerable developing countries.