Even as the baht surges, Thailand faces economic recession in mid-2023 with lower earnings

KKP Research, the research arm of Kiatnakin Phatra Bank in Bangkok is predicting the Thai economy to enter recession in the opening quarter of 2023 with the kingdom facing a challenge to find foreign tourists and generate the same level of exports seen in 2022. This will be coming at a time when inflation is predicted to remain elevated at a significantly higher level than the Bank of Thailand’s target rate of 3% and loan interest rates are rising. The economic malaise facing the world has seen the International Monetary Fund (IMF), in September this year, urging central banks to stress test their banking systems for a possible deterioration in real estate values in the short term. https://www.thaiexaminer.com/t....hai-news-foreigners/ Joseph O' Connor reports from Bangkok and Phuket.