BangkokPost-Dec 15

The World Bank predicts Thai economic activity will return to 2019 levels by the end of 2022, helping support GDP growth of 3.9% next year, up from 1% this year.

Thailand’s economy bottomed out in the third quarter this year, but has been picking up since. Progress on vaccination and the resumption of tourist arrivals would continue to help support the Thai economic recovery, said Kiatipong Ariyapruchya, the World Bank’s senior economist for Thailand. Under this scenario, Mr Kiatipong expects Thailand’s economic activity to return to pre-pandemic levels by the end of 2022, while the country’s GDP growth rate is projected to accelerate to 3.9% next year and reach 4.3% in 2023, driven by a recovering service sector. However, a recent 2021 World Bank household phone survey indicates the impact of the pandemic has been particularly severe on vulnerable groups. Overall, more than half of the 2,000 respondents were affected by job losses, temporary work stoppages, and reduced working hours or lower pay. Read more at: https://www.bangkokpost.com/business/2232083/world-bank-upbeat-on-thai-growth