Thailand’s annual economic growth rate is expected to reach 3.3%

International Business News – Thai Prime Minister Prayuth Prayut announced on August 2 after the cabinet meeting that Thailand’s economic recovery in the second quarter of 2022 is on a good trend, with an annual economic growth rate of 3.3% and an expected growth rate of 4.2% in 2023.

Prayut said that Thailand’s economic growth is driven by the recovery of domestic consumption and the return of international tourists. It is expected to receive 6 million international tourists throughout the year and 19 million international tourists in 2023.

In addition, export growth is expected to reach 7.9 percent this year, with continued growth next year. However, due to factors such as rising global energy prices, Thailand’s inflation rate may rise to 6.9% in 2022.