The Ministry of Finance has confirmed that the Thai economy remains firmly on the path to recovery despite global uncertainty, with further interest rate hikes to be gradual in order to ensure continuous recovery.
Finance Minister Arkhom Termpittayapaisith recently told a business forum that Thailand’s economy remains stable, with relatively low interest rates, sufficient liquidity and strong fiscal and financial positions.
The minister said, “The Thai economy has proved once again that it is highly resilient and can weather the storms,” adding that annual third-quarter growth of 4.5% was the fastest pace in more than a year.
Citing the ministry’s forecasts, he also said the economy is expected to grow 3.4% this year and 3.8% next year, with the tourism sector a key driver.
Minister Arkhom added that with the economy in recovery, the central bank will gradually hike interest rates and fiscal policy will be more targeted in supporting growth and tackling inflation.
A joint business group on Wednesday (7 Dec) predicted growth of 3.2% this year and 3.0-3.5% next year as the tourism sector picks up pace. (NNT)
 |
 |
 |
