BANGKOK, Nov. 15 (Xinhua) -- Thailand's economy contracted 0.3 percent from a year earlier in the third quarter of 2021, as the government took strict supervision and control measures to contain the COVID-19 outbreak, official data showed Monday.

However, the Thai economy in 2021 is projected to increase by 1.2 percent, a gradual recovery from a 6.1-percent decrease in 2020, according to data from the Office of the National Economic and Social Development Council.

Moreover, headline inflation is estimated to be at 1.2 percent and the current account is projected to record a deficit of 2.5 percent of gross domestic product (GDP), compared with a surplus of 4 percent of GDP in 2020.

Meanwhile, the agency expected the Thai economy to expand around 3.5-4.5 percent next year, supported by recovery in domestic demand and manufacturing production, expansion of exports of goods, the regaining of tourism sector following the easing of international travel restriction and the improving COVID-19 pandemic situation in many countries.

The agency also said that the economic management for 2022 needs to prioritize on containing the domestic outbreak to prevent the COVID-19 resurgence and assisting affected business.

It added that the country must try to maintain its growth momentum in household expenditure and domestic tourism as well as continue to stimulate private investment and government expenditure. Enditem

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