The world began 2012 on a bad note, and looking ahead the outlook remains weak. The tension in the developed countries when it comes to solving sovereign debt problems in Europe means that the after-effects of the 2008-09 crisis have not yet played out fully.
In Thailand, the country's economy is expected to rebound strongly in 2012, after severe floods took a toll on growth in the fourth quarter 2011. This is mainly attributed to easing supply disruptions and pent-up domestic demand. While the near-term outlook is positive, the country faces several medium- and long-term challenges, many of which will take years to resolve. Collective responses from all stakeholders to strengthen economic resilience and long-term competitiveness are necessary to ensure sustainable economic growth amid global and domestic uncertainties.
