Fiscal Policy Office (FPO) director-general Pornchai Thiraveja believes the Thai economy will grow by a minimum of 3% this year despite soaring domestic energy and product prices caused by the Russia-Ukraine war.
The sharp spike in retail oil prices has increased production costs in Thailand, which means the FPO's previous growth forecast of 3.5-4.5% is unlikely to be attained, he said, but he remains confident it will not be lower than 3% this year.
