World Bank keeps Thai growth outlook at 1% this year, sees better 2022FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, Oct 12, 2018. "A major surge in Covid-19 cases severely slowed economic activity in Thailand during Q3 of 2021, but a recovery is now underway," the World Bank said in its latest Thailand Economic Monitor. Growth risks, however, are skewed to the downside due to uncertain variables, the World Bank said. The new Omicron variant is one such risk and if there were new containment measures and border closures, the economy could contract 0.3% in 2022, Kiatipong Ariyapruchya, senior World Bank economist for Thailand, told a briefing. Monetary policy is expected to remain accommodative to support the recovery, with the policy interest rate still seen unchanged at a record low of 0.50% in 2022, the World Bank said.

Source: Bangkok Post December 14, 2021 19:02 UTC