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Thailand: GDP growth outlook maintained at 3.0-3.5%

  • May 03, 2023

Thailand’s economy is expected to grow 3.0% to 3.5% this year, a leading joint business group said on Wednesday, unchanged from a previous forecast as the tourism sector gathers steam and exports remain weak.

Exports are still projected to show zero to 1% growth in 2023, while the number of foreign tourist arrivals should reach 30 million this year, said the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).

The economy grew 2.6% in 2022.

The Commerce Ministry reported on Wednesday that the country’s headline inflation dropped to its lowest in 16 months in April, coming in close to expectations owing to lower energy and food prices and a high base in 2022.

Source: https://www.bangkokpost.com/business/2562525/thai-business-group-maintains-gdp-growth-outlook-at-3-0-3-5-this-year