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Omicron slows down Thai economy in January

A new coronavirus outbreak triggered by the Omicron variant has slowed down Thailand’s economy in January, according to the country’s central bank. The Bank of Thailand (BoT) said Thailand’s recovery in Q4 of 2021 was cut short as the spread of Omicron began in late December. Chayawadee Chai-Anant, senior director at the Bank of Thailand, however, clarified that part of the slowdown was a seasonal adjustment. Chayadee said the Thai economy in Q4 likely performed better than the previous quarter and better than expected. She did not give a specific forecast though. Official Q4 and 2021 GDP data are due to be released in February.

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