Thailand GDP expected to rise up to 4.5% in 2022: Finance Minister
Thailand gross domestic product (GDP) is expected to rise by 3.5 per cent to 4.5 per cent next year on economic recovery, Finance Minister Arkhom Termpittayapaisith said during the Thai Chamber of Commerces seminar on Saturday.
He predicted that Thailand GDP would rise by 1.2 per cent to 1.3 per cent this year in response to tourism recovery as the country GDP in the first nine months had risen by 1.3 per cent.
He also expected the country GDP next year would rise by 3.5 per cent to 4.5 per cent as people would spend more money.
"The number of tourists visiting Thailand would be no more than 6 million people this year, but everything would be better next year, such as tourism, domestic travel and supports from government and private sectors," he said.
Arkhom said the country economy next year would recover from expansion in export and tourism, as well as the ministry's financial measures, such as increasing liquidity, relieving debt burden, and increasing ways to help debtors.
"However, the government has planned to restructure the economy to cope with challenges on country development in the future, including middle-income trap, competitiveness, unbalanced growth, poverty, inequality, ageing society, climate change and fiscal burden," he added.