Thailand’s economy is still expected to grow 3.0% to 3.5% this year, while a weak baht is helping exports, the finance minister said on Wednesday, as the Thai currency hovered near its 16-year lows against the dollar.

Exports, a key driver of Thai growth, are expected to rise 8% this year, Finance minister Arkhom Termpittayapaisith told a business seminar.

“But supply chains problems, such as in the automobile and electronics sectors, are preventing exports from growing at its full potential,” he said.

Southeast Asia’s second-largest economy is still in recovery, helped by increased exports and a pickup in the crucial tourism sector from the pandemic. Last year’s growth of 1.5% was among the lowest in the region.

Arkhom’s growth projection for 2022 was matched by a leading joint business group and compared with 3.3% growth predicted by the central bank.

“Although the recovery may not be very fast, it’s a clear recovery,” he said.

Government spokesperson Anucha Burapachaisri said on Wednesday the government would not interfere with the BOT’s work but would let the finance ministry support it with information.