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Thai economy seen growing 3.5% on tourism, exports

The Thai economy is expected to grow about 3.5% this year, driven by stronger tourism and exports, Finance Minister Arkhom Termpittayapaisith said on Tuesday. The Tourism and Sports Ministry now predicts 9.5 million foreign visitors this year, Mr Arkhom told reporters. The government also plans additional measures to help reduce costs of living, he said. Source: https://www.bangkokpost.com/business/2335533/thai-economy-seen-growing-3-5-this-year-on-tourism-and-exports-says-finance-minister-arkhom

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Thailand: Household debt crisis looms as rates hike

With interest rates set to rise in the second half of the year, increased household debt could deal a heavy blow to the Thai economy, weakening consumer purchasing power and slowing economic growth, according to KKP Research. Thailand’s household debt now exceeds 90% of Thai GDP, ranked 11th-highest in the world, as households struggle to […]

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Thailand: TNSC sticks with export growth projection of 5-8%

Thai exports are projected to eke out growth this year as expected, despite emerging signs of an economic slowdown in the US and EU. Chaichan Charoensuk, president of the Thai National Shippers’ Council (TNSC), said he remains confident outbound shipments will grow as projected because China’s economy remains in good shape and Thai exports are […]

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Thailand: BoT predicts global recession evaded

The Bank of Thailand estimates the global economy will slow down next year, but not dip into recession amid attempts by central banks worldwide to contain higher inflation rates. The central bank’s assistant governor for monetary policy group, Piti Disyatat, said in an analyst meeting on Monday the global economy is expected to show clearer signs […]

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