Thailand Monthly Economic Monitor : August 23, 2022

Thailand Monthly Economic Monitor : August 23, 2022

The economic recovery continued to pick up in Q2 2022, expanding by 2.5 percent (yoy), due to a stronger-than-expected boost in private consumption and tourism, which offset weak goods exports. However, among the major ASEAN economies, Thailand’s r...

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Bibliographic Details
Main Author: World Bank
Format: Brief
Language:English
English
Published: Washington, DC 2022
Subjects:
ECONOMIC RECOVERY
PRIVATE CONSUMPTION
TOURISM
FISCAL DEFICIT
INFLATION
PUBLIC DEBT
ENERGY SUBSIDIES
CURRENT ECONOMIC DATA
MONTHLY UPDATE
Online Access:http://documents.worldbank.org/curated/en/099804208242220393/IDU0ccfde2eb0b0e8049ab0b923042ce2e834687
http://hdl.handle.net/10986/37925
id okr-10986-37925
recordtype oai_dc
spelling okr-10986-379252022-08-26T05:10:36Z Thailand Monthly Economic Monitor : August 23, 2022 World Bank ECONOMIC RECOVERY PRIVATE CONSUMPTION TOURISM FISCAL DEFICIT INFLATION PUBLIC DEBT ENERGY SUBSIDIES CURRENT ECONOMIC DATA MONTHLY UPDATE The economic recovery continued to pick up in Q2 2022, expanding by 2.5 percent (yoy), due to a stronger-than-expected boost in private consumption and tourism, which offset weak goods exports. However, among the major ASEAN economies, Thailand’s recovery has proven to be the slowest and inflation the highest. To tame cost-push inflation, the Bank of Thailand recently began raising rates; however, monetary policy normalization is expected to be gradual as the recovery is not yet complete. The fiscal deficit remained large as the government continued to introduce measures to counter the impact of the rising cost of living and the pandemic. The rising cost of energy subsidies administered by the State Oil Fund may potentially add to public debt levels. The Thai baht strengthened due to expectations of a swifter economic recovery and the decline of the US dollar. 2022-08-25T18:51:11Z 2022-08-25T18:51:11Z 2022-08-23 Brief http://documents.worldbank.org/curated/en/099804208242220393/IDU0ccfde2eb0b0e8049ab0b923042ce2e834687 http://hdl.handle.net/10986/37925 English en CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Knowledge Notes :: Miscellaneous Knowledge Notes East Asia and Pacific Thailand
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
English
topic ECONOMIC RECOVERY
PRIVATE CONSUMPTION
TOURISM
FISCAL DEFICIT
INFLATION
PUBLIC DEBT
ENERGY SUBSIDIES
CURRENT ECONOMIC DATA
MONTHLY UPDATE
spellingShingle ECONOMIC RECOVERY
PRIVATE CONSUMPTION
TOURISM
FISCAL DEFICIT
INFLATION
PUBLIC DEBT
ENERGY SUBSIDIES
CURRENT ECONOMIC DATA
MONTHLY UPDATE
World Bank
Thailand Monthly Economic Monitor : August 23, 2022
geographic_facet East Asia and Pacific
Thailand
description The economic recovery continued to pick up in Q2 2022, expanding by 2.5 percent (yoy), due to a stronger-than-expected boost in private consumption and tourism, which offset weak goods exports. However, among the major ASEAN economies, Thailand’s recovery has proven to be the slowest and inflation the highest. To tame cost-push inflation, the Bank of Thailand recently began raising rates; however, monetary policy normalization is expected to be gradual as the recovery is not yet complete. The fiscal deficit remained large as the government continued to introduce measures to counter the impact of the rising cost of living and the pandemic. The rising cost of energy subsidies administered by the State Oil Fund may potentially add to public debt levels. The Thai baht strengthened due to expectations of a swifter economic recovery and the decline of the US dollar.
format Brief
author World Bank
author_facet World Bank
author_sort World Bank
title Thailand Monthly Economic Monitor : August 23, 2022
title_short Thailand Monthly Economic Monitor : August 23, 2022
title_full Thailand Monthly Economic Monitor : August 23, 2022
title_fullStr Thailand Monthly Economic Monitor : August 23, 2022
title_full_unstemmed Thailand Monthly Economic Monitor : August 23, 2022
title_sort thailand monthly economic monitor : august 23, 2022
publisher Washington, DC
publishDate 2022
url http://documents.worldbank.org/curated/en/099804208242220393/IDU0ccfde2eb0b0e8049ab0b923042ce2e834687
http://hdl.handle.net/10986/37925
_version_ 1764488140647563264

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