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Thai Finance Ministry Cuts Growth Outlook on War, Inflation

  • GDP growth in 2022 seen at 3.5%, down from 4% earlier
  • Headline inflation forecast raised to 5% from 1.9% earlier
Updated on

Thailand’s finance ministry expects economic growth this year to be slower than previously estimated as the nation faces the impact of accelerating inflation and Russia’s war in Ukraine. 

It now sees gross domestic product expanding 3.5% in 2022, trimmed from 4% predicted in January, according to Pornchai Thiraveja, director general of the ministry’s fiscal policy office. It also raised the headline inflation forecast for the year to 5% from 1.9% seen previously.