Thai economy seen growing 3.5%-4.5% next year, recovery fragile – FinMin

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  • Economy to grow 1.0%-1.2% this year – Finance minister
  • Says monetary policy must support fiscal policy
  • Says fiscal policy remains strong
  • Commerce Minister sees inflation at 0.7%-1.2% next year

BANGKOK, Nov 20 (Reuters) – Thailand’s economy is expected to grow between 3.5% to 4.5% next year thanks to increased exports and a recovery in the country’s vital tourism sector from the pandemic-driven slump, its finance minister said on Saturday.

The Southeast Asian country earlier this month reopened to vaccinated foreign visitors without quarantine requirements in a bid to reboot an industry which typically accounts for about 12% of gross domestic product (GDP).

This year’s growth is expected at 1.0% to 1.2% and monetary policy must support fiscal policy in helping the economic recovery which remains very fragile, Finance Minister Arkhom Termpittayapaisith told a business seminar. The economy contracted 6.1% last year.

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