The Thai economy is set to expand as much as 1.2% this year with the reopening of its key tourism sector, exceeding the Finance Ministry’s earlier forecast of 1%.
The country’s nationwide reopening to vaccinated visitors that started this month boosted economic activities in the fourth quarter, said Finance Minister Arkhom Termpittayapaisith, adding that next year’s growth could reach as much as 4.5%, exceeding the ministry’s earlier forecast of 4%.
Arkhom’s new growth estimates for 2021 and 2022 are in line with the latest forecasts from the National Economic and Social Development Council. However, they far exceed the central bank’s prediction for growth of 0.7% this year, and 3.9% in the subsequent 12 months.
The Southeast Asian nation, popular among tourists for its Bangkok nightlife and beach resorts along…
