The Fiscal Policy Office (FPO) has revised its forecast for economic growth down to 2.7% this year and 3.2% next year, while domestic and international risk factors need to be monitored, according to director-general Pornchai Thiraveja.
The forecast for next year of 3.2% growth does not include the impact of government stimulus measures, such as the 10,000-baht digital wallet scheme, said the FPO.
As a spokesman for the Finance Ministry, Mr Pornchai said the tourism sector and domestic demand, particularly private consumption, are the leading drivers of the country’s economy.
The FPO forecast foreign arrivals this year of 27.7 million, a 148% gain from 2022.
The office anticipated in July 29.5 million foreign visitors to Thailand this year.
Tourism revenue is expected to reach 1.18 trillion baht this year, up 226% from last year, down from the July forecast of 1.25 trillion…
