BANGKOK, Thailand’s economy rose 1.9 percent in the fourth quarter of last year, thanks to the country’s easing of COVID-19 curbs, and the reopening to overseas visitors that helped support its tourism sector.
This marked a strong rebound from a decline of 0.2 percent, registered in the previous quarter, according to data released by the Office of the National Economic and Social Development Council (NESDC), today.
The improvement was driven by higher domestic and external demand for goods and services, the relaxation of the COVID-19 control measures and economic stimulus measures, the NESDC said, in a statement.
The country’s economy expanded 1.6 percent in 2021, recovering from a 6.2-percent contraction in 2020, due to COVID-19, its worst economic performance in more than two decades.
The NESDC expected the economy this year to expand in the range of 3.5-4.5 percent, boosted by a further recovery in tourism and the government’s supportive measures.
It also forecast that the country’s headline inflation would pick up this year, rising between 1.5-2.5 percent year-on-year.
Source: Nam News Network