Fri, January 28, 2022


Large govt projects will help Thai economy grow 3.5-4.5% in 2022, says finance minister

The Thai economy should grow by 3.5 to 4.5 per cent next year with the government’s planned spending of about 1 trillion baht, Finance Minister Arkhom Termpittayapaisith said on Monday.

“A sound fiscal policy is necessary to drive the economy, and I will ensure that the government spends money to nourish it,” he said.

Arkhom explained that the economic “nourishment” will come in the form of infrastructure and stimulus measures.

He also listed the factors that will affect the overall economic recovery and government policies next year, namely:

• Implementation of policies concerning the promises Thailand made at the United Nations Climate Change Conference (COP26).

• Boosting the use of digital infrastructure by government agencies as well as the capital market, cryptocurrencies and fintech.

• Unlocking international travel.

• Promoting more intense capital market development plans, especially in the digital industry.

• Pandemic situation, especially in relation to the new variant of concern, Omicron.

Arkhom also said that the economy is expected to grow 1 per cent with exports rising by around 17 per cent.

Published : November 29, 2021