By Reuters and published by CNA
THAILAND’S economy is expected to grow 2.5 percent to 3.0 percent this year, unchanged from a previous forecast, a leading joint business group said today (Dec 6).
Tourism revenue will be lower than expected because Thailand is expected to receive only 28 million foreign arrivals this year, down from an earlier forecast of 30 million, said the Joint Standing Committee on Commerce, Industry and Banking, which includes representatives from those sectors.
The economy is expected to grow 2.8 percent to 3.3 percent next year. If the government’s plan to give away 500 billion baht (US$14.23 billion) to Thais via a digital wallet is successful, that would add an additional 1.0 percent to 1.5 percent in GDP growth, the group said.
Southeast Asia’s second-largest economy grew 1.5 percent in the July-September quarter from a year earlier, the slowest this year, due to declining exports and government spending.
CAPTIONS:
Top: The giant Buddha statue of Wat Paknam Phasi Charoen temple is photographed during sunset in Bangkok, Thailand, on July 3, 2023. Photo: Reuters/Athit Perawongmetha and published by CNA
Front Page: Cargo ships are pictured near Khlong Toei port on March 25, 2016. File photo: Reuters/Athit Perawongmetha and published by CNA
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