Bangkok (VNA) – Thailand’s economic growth mayreach 1.3 percent this year, as forecast by the Fiscal Policy Office (FPO), accordingto Pisit Puapan, director of the Bureau of Macroeconomic Policy.
Pisit was quoted by local media as saying that factors towatch in the final quarter this year include the performance of the exportsector, domestic spending, and the results of the government's stimuluspackages. If all these factors fail to perform well, the FPO might cut itseconomic growth forecast, he said.
The FPO is scheduled to announce its updated GDP growthprojection on October 28. The office projected GDP growth of 4.5 percent in2022.
Pisit believes economic activities in the fourth quartershould improve as Thailand plans to reopen on November 1 to vaccinated foreigners.The COVID-19 infection rate has been on a downward trend since August, he said.
The Centre for COVID-19 Situation Administration (CCSA) has decided toallow fully vaccinated visitors from Britain, the US, Germany, Singapore andChina to visit the kingdom from November 1, though they must present a negative RT-PCR testbefore arrival.
The FPO forecast international arrivals this year of 300,000. There have been100,000 thus far. If arrivals are lower than expected, it will not affect theoffice's GDP growth forecast for this year, said Pisit. Revenue from foreigntourists accounts for 12 percent of the country's GDP.
In April, the FPO forecast Thai GDP growth this year of 2.3percent before downgrading it to 1.3 percent in July following a new wave ofthe pandemic./.
Pisit was quoted by local media as saying that factors towatch in the final quarter this year include the performance of the exportsector, domestic spending, and the results of the government's stimuluspackages. If all these factors fail to perform well, the FPO might cut itseconomic growth forecast, he said.
The FPO is scheduled to announce its updated GDP growthprojection on October 28. The office projected GDP growth of 4.5 percent in2022.
Pisit believes economic activities in the fourth quartershould improve as Thailand plans to reopen on November 1 to vaccinated foreigners.The COVID-19 infection rate has been on a downward trend since August, he said.
The Centre for COVID-19 Situation Administration (CCSA) has decided toallow fully vaccinated visitors from Britain, the US, Germany, Singapore andChina to visit the kingdom from November 1, though they must present a negative RT-PCR testbefore arrival.
The FPO forecast international arrivals this year of 300,000. There have been100,000 thus far. If arrivals are lower than expected, it will not affect theoffice's GDP growth forecast for this year, said Pisit. Revenue from foreigntourists accounts for 12 percent of the country's GDP.
In April, the FPO forecast Thai GDP growth this year of 2.3percent before downgrading it to 1.3 percent in July following a new wave ofthe pandemic./.
VNA
