Government confident economy will recover quickly in 2022
The overall economic situation has improved, according to the September Economic Report, government spokesman Thanakorn Wangboonkongchana said on Thursday.
In September, 12,237 foreign tourists entered the country, an increase of 100 per cent compared to last year.
Net income in September grew 14.8 per cent year-on-year, while the government's VAT collection grew 8.6 per cent year-on-year.
Exports also improved.
It is expected that the value of exports in 2021 will grow 16.3 per cent year-on-year. The agricultural production index in September grew by 4.9 per cent compared to the same period last year.
The Fiscal Policy Office predicted that in 2022 the economy would expand at an accelerated rate of 4.0 per cent, with 7 million foreign tourists expected to enter the kingdom, while product exports are expected to grow at 3.8 per cent, which would be a key factor in the recovery of the business sector, employment and domestic consumption.
The increase in income tax and vat figures in September reflects increased production and domestic spending. This is consistent with the opinion of the Bank of Thailand and economic analysts, who believe that the Thai economy will recover quickly in 2022, Thanakorn added.
