A slew of billion-dollar infrastructure projects and an upswing in tourism will fuel Thailand’s expansion this year, shielding the economy from weaker exports and any possible delay in the budget approval due to elections. Know more:
A slew of billion-dollar infrastructure projects and an upswing in tourism will fuel Thailand’s expansion this year, shielding the economy from weaker exports and any possible delay in the budget approval due to elections, according to Finance Minister Arkhom Termpittayapaisith.
The finance ministry is sticking to its forecast for a gross domestic product expansion of 3.8 percent this year even though a below-par performance last quarter needs to be factored in, Arkhom said. Firm domestic demand and an improving services sector will also keep the recovery on track, he said. “We are quite comfortable in our growth path despite many people saying that we have the lowest rate in Asean,” Arkhom said in Bangkok. “Tourism has been helping Thai economy a lot, particularly in the short-term recovery. We expect more improvement in the tourism sector after the Chinese reopening.”
While tourism will support private consumption, a slowdown in Thailand’s major trade partners is seen as a headwind, Arkhom said. A sustained expansionary fiscal policy and gradual normalization in interest rates will ensure the recovery remains intact, he said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX's Singh pleads guilty as pressure mounts on Bankman-FriedNishad Singh pleads guilty to one count of wire fraud, three counts of conspiracy to commit fraud, one count of conspiracy to commit money laundering, and one count of conspiracy to defraud the United States by violating campaign finance laws.
Read more »
NHMFC warns public against 'fixers' | BMPlusThe National Home Mortgage Finance Corporation (NHMFC) warns the public against transacting with “fixers’ who offer assistance to illegally facilitate their transactions at NHMFC. NHMFC recently received reports that some persons, groups, or organizations have been, without the corporation’s consent and/or prior authority or knowledge, illegally representing NHMFC in…
Read more »
G-20 meeting in India ends sans consensus on Ukraine war | Aijaz Rahi & Ashok Sharma / The Associated PressBENGALURU, India—A meeting of finance chiefs of the Group of 20 leading economies ended on Saturday without a consensus, with Russia and China objecting to the description of the war in Ukraine in a final document. The meeting hosted by India issued the G-20 Chair’s summary and an outcome document…
Read more »
Marcos: Mega’s Batangas plant to contribute in achieving 10% growth in agribiz investmentsPresident Ferdinand Marcos Jr. on Wednesday inaugurated food canning giant Mega Global Corp.’s third manufacturing plant here.
Read more »
Davao de Oro eyes for more tourism-related establishmentsDavao de Oro Provincial Tourism Officer Christine Dompor told media on Tuesday that the province is looking for more tourism-related establishments, particularly in the accommodation sector, to cat…
Read more »
Elon Musk regains his spot as the world’s richest personElon Musk has regained his spot as the world’s richest person, after briefly losing the title to France’s Bernard Arnault. READ:
Read more »