FPO slashes growth on energy outlookKhao San Road appears empty this month as the FPO downgraded its 2022 economic growth forecast to an average of 3.5% amid global uncertainties. Arnun ChonmahatrakoolThe Fiscal Policy Office (FPO) has downgraded its 2022 economic growth forecast to an average of 3.5% from 4.0%, mainly because of the Russia-Ukraine war and its effect on domestic energy prices, says FPO director Pornchai Thiraveja. He said the FPO expects economic growth to be in a range of 3-4%, compared with a previous range in January of 3.5-4.5%. In addition, the FPO cut its forecast for the economic growth of 15 Thai trade partners to 4% this year, down from 4.4% in January. The FPO upgraded its forecast for export growth this year to 6%, in a range of 5.5-6.5%, from the previous projection of 3.6%.

Source: Bangkok Post April 28, 2022 10:10 UTC