Thailand’s 2021 economy grows by 1.6%, PM vows to go full steam ahead on recovery

Thailand’s economy for the year 2021 grew by 1.6%, better than the projected growth of 1.2%, according to the National Economic and Social Development Council (NESDC).

According to Deputy Government Spokesperson Traisuree Traisoranakul, the prime minister is pleased with last year’s economic performance.

Prime Minister Prayut Chan-o-cha vowed today (Monday) to push full steam ahead to restore the national economy, hard hit by the COVID-19 pandemic, in conjunction with efforts to contain the spread of the disease,

The positive growth, despite the COVID-19 pandemic, was attributed to several economic factors, thanks to the various stimulus packages introduced by the government, be they to boost domestic consumption, the slow recovery of tourism or increased government investments, while the government continues in its efforts to contain the pandemic and to look after those infected.

As for this year, Traisulee said the NESDC has projected a higher growth rate than last year, citing several supporting factors, such as the anticipated further recovery of tourism, price controls on consumer products, efforts to help ease household debt and acceleration of the disbursement of government spending.

As far as private investments are concerned, Traisuree said the government has vowed to promote investments, by both Thai and foreign investors, and to promote exports, which are expected to perform much better this year due to the global economic recovery.


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