The bank is currently adjusting its GDP forecast for the September meeting but warns that exports remain slow and tourism is lower than expected. It will also be taking account of the potential impacts of the digital cash handout programme promised by Pheu Thai.
According to Sakkapop Panyanukul, senior director of BOT’s macroeconomic division, the overall economic and financial situation in July showed signs of recovery, with domestic spending increasing due to higher consumption and more private sector investments.
Foreign tourist arrivals increased to 2.49 million people, up from 2.24 million the previous month, a 0.9% increase. The total number of tourists this year is recorded as 15.4 million, mostly coming from Russia, Malaysia, South Korea, and Japan. However, tourism income has not significantly increased as the majority are short-term tourists.
Exports excluding gold saw…
