© Reuters. FILE PHOTO: An aerial view exhibits a cityscape in Bangkok, Thailand January 27, 2023. REUTERS/Ilan Rosenberg/File Photograph
BANGKOK (Reuters) – Thailand’s financial system is predicted to develop 2.8% this yr, a pointy downgrade from a earlier projection of three.2%, the finance ministry mentioned in a press release on Tuesday.
Gross home product (GDP) development final yr is seen at 1.8%, down from 2.7% seen earlier.
International vacationer arrivals in 2024 are forecast at 33.5 million, a decline from a earlier expectation of 34.5 million.
Exports are anticipated to develop 4.2% this yr from a earlier forecast of 4.4%. Final yr’s exports had been projected to contract 1.5%.
The financial system is predicted to develop sooner than final yr as a result of larger exports, providers and tourism arrivals, the assertion mentioned.