The Finance Minister said on Wednesday that Thailand's economy is expected to grow 3.0 per cent to 3.5 per cent this year, while the Thai currency hovered near its 16 year lows against the dollar.
Finance Minister Arkhom Termpittayapaisith told a business seminar that the exports of Thailand are expected to increase 8 per cent this year.
Supply chains problems, such as in the automotive and electronics sectors, are preventing exports from growing at its full potential, he said.
Southeast Asia's second largest economy is still in a recovery, thanks to increased exports and a boost to the tourism sector from the Pandemic. The growth of 1.5 per cent last year was among the lowest in the region.
Arkhom's growth projection for 2022 was matched by a leading joint business group and compared to 3.3 per cent growth predicted by the central bank.
He said that recovery is a clear recovery, although the recovery may not be very fast.
The Bank of Thailand BOT raised its key interest rate by a quarter point in the past two months after Thailand dealt with high inflation and a weak currency.
In September, headline inflation was less than expected, but above-target consumer prices reinforced expectations of a further interest rate hike from the central bank in November.
Anucha Burapachaisri, government spokesperson, said on Wednesday that the government wouldn't interfere with the BOT's work but would let the finance ministry support it with information.