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Thai Economic Outlook Revised Up as Covid-19 Outlook Improves

Thais can get up to 3,000 baht from the government for shopping at designated retailers through December.
Thais can get up to 3,000 baht from the government for shopping at designated retailers through December. (Photo by Markus Winkler on Unsplash)

The Joint Standing Committee on Commerce, Industry and Banking revised its forecast on Thailand’s gross domestic product up by 1 percent to range between a 0.5 percent decline and a 1.0 percent expansion this year as the local Covid-19 situation is improving and the government will be procuring more vaccine doses.

Chairing the committee’s meeting, Payong Srivanich, chairman of the Thai Bankers Association, said JSCCIB also revised Thai export growth upwards to 12-14 percent from 10-12 percent this year thanks to the steady recovery of the world economy.

The committee proposed the government continuously acquire Covid-19 vaccines and efficiently administer them.