The government will encourage people to use public transport to deal with the growing energy crisis. As a result, the global oil supply would not decline, Mr Krisada said. In this case, global oil prices are likely to keep dropping gradually this year as the oil supply will be better reallocated, he said. In that case, Thailand's growth would slow this and next year while inflation would stay high before declining next year, Mr Krisada added. Conflicts would be more complicated, sparking bouts of recession alternating with bursts of growth depending on the intensity of the action between the two opposing blocs, Mr Krisada said.

Source: Bangkok Post August 11, 2022 23:48 UTC