Thailand is on high alert as the National Economic and Social Development Council (NESDC) closely monitors the ripple effects of China’s economic deceleration.
Despite initial projections, China’s sluggish growth last year has cast shadows over Thailand’s economic prospects for the coming year.
NESDC’s chief, Danucha Pichayanan, predicts Thailand’s economic expansion in 2024 to hover between 2.7% and 3.7%, with a median projection of 3.2%. The fuel for this growth engine? A concoction of increased government spending, sustained private sector investments, and an unwavering domestic consumption trend since 2023.
Post-pandemic, Thailand’s rebounding economy saw a resurgence in public spending and domestic tourism, especially benefiting the service sector. However, external forces threaten the sunny economic outlook. Global vulnerability,…
