The Thai economy is likely to start recovering in the first half of this year thanks to the government's better control of COVID-19 infections, the state's economic stimulus measures as well as accelerated infrastructure development, Deputy Prime Minister Supattanapong Punmeechaow has said.
Bangkok (VNA) – The Thai economy is likely tostart recovering in the first half of this year thanks to the government'sbetter control of COVID-19 infections, the state's economic stimulus measuresas well as accelerated infrastructure development, Deputy Prime MinisterSupattanapong Punmeechaow has said.
According to Supattanapong, the resumption of theTest & Go tourism scheme on February 1 will also help revitalise thetourism industry.
The Tourism and Sports Ministry expects the resumption ofthe Test & Go tourism scheme should allow the country to attract at least 8million tourists this year.
Some 2,500 passengers on 46 flights arrived atSuvarnabhumi airport on February 1, the first day the Test & Go schemeresumed, he said.
The National Economic and Social Development Council (NESDC)has scheduled the announcement of the country's economic figures for the fourthquarter of 2021 and this year's forecast on February 21.
Supattanapong said overall business sentiment is alsoimproving, citing the latest survey by the Japanese Chamber of Commerce onbusiness sentiment among Japanese companies in Thailand that shows sentiment isforecast to improve to reach the highest point in seven years.
Among the challenging negative factors, the rise in theprices of oil and goods is particularly notable, according to Supattanapong. Nonetheless,he said the government is trying its best to tackle such issues.
Thailand’s Joint Standing Committee on Commerce, Industryand Banking (JSCCBI) has maintained its economic growth forecast at 3.0 percentto 4.5 percent this year, despite a rise in coronavirus infections driven bythe Omicron variant.
While the virus outbreak had slowed economic activity earlyin the year, the overall impact is not expected to be severe, said the JSCCBI.
However, higher inflation is a concern since it could hit 3percent in the first half and mean the economy expands less than expected./.
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Illustrative photo. (Source: Bloomberg)
