BANGKOK- Thailand’s economy expanded at the fastest pace in a year in the second quarter as eased COVID-19 restrictions boosted activity and tourism, but multi-year high inflation and China’s slowdown remain a drag on the nascent recovery.
The government slightly revised its 2022 economic growth forecast to 2.7 percent to 3.2 percent from an earlier 2.5 to 3.5 percent growth range, citing a rebound in the crucial tourism sector, increased consumption and exports. Last year’s growth of 1.5 percent was among the slowest in Southeast Asia.
The economy grew an annual 2.5 percent in the June quarter, the fastest since the second quarter of 2021, data from the National Economic and Social Development Council showed on Monday.
That compared with a forecast 3.1 percent rise in a Reuters poll and upwardly revised 2.3 percent growth in the March…
