The Thai Ministry of Finance has downgraded its projection for this year country’s economic growth to 2.8% from the previous estimate of 3.2%.
- The Thai economy’s growth projection for this year has been revised down to 2.8% from the earlier estimate of 3.2%, indicating a slower-than-expected expansion.
- Foreign tourist arrivals in 2024 are anticipated to decrease to 33.5 million, down from the previous forecast of 34.5 million, potentially impacting the tourism sector.
- Despite the downward revisions, the economy is expected to grow at a faster pace than last year, driven by higher exports, services, and tourism arrivals, with prospects closely linked to China’s economic outlook.
Last year’s GDP growth is expected to be 1.8%, down from 2.6% in 2022 and well below the Bank of Thailand’s projection of 3.6%. The official GDP data is set to be published by the National Economic and…
