FILE PHOTO: A tourist wears a face mask to prevent spread of the coronavirus disease (COVID-19) during sunset near the Grand Palace in Bangkok, Thailand, January 7, 2022. REUTERS/Chalinee Thirasupa
BANGKOK : Thailand’s leading joint business group said on Monday the economy is expected to grow by 2.75 per cent to 3.5 per cent this year, rather than the 2.5 per cent to 4.0 per cent range it predicted earlier, taking into account higher inflation and a possible global recession.
Headline inflation is now expected to average 5.0 per cent to 7.0 per cent this year, up from 3.5 per cent to 5.5 per cent projected in June, according to the group, which includes representatives from industry, banking and commerce.
Source: Reuters