The central bank forecasts the figure could surge to 9.9% year-on-year in the second quarter of 2022, said Bank of Thailand governor Sethaput Suthiwartnarueput. The figure is expected to increase to 10.3% in the second quarter this year. Farm income, excluding state assistance schemes, is expected increase 16.7% in the second quarter from 6.6% in the first. "If foreign tourist arrivals exceed the forecast, the economic growth rate could be higher than our assessment," Mr Sethaput said. For 2023, the bank projects the inflation rate to be 4.1% in the first quarter, 2.5% in the second quarter, then decline to 1.7% in both the third and fourth quarters.
