Thailand’s economy can grow as forecast in 2023, helped by public consumption and investment after the formation of the new government, the country’s Deputy Minister of Finance Krisada Chinavicharana said on September 8.
According to him, private consumption and tourism recovery will contribute to helping the country’s economic growth to reach 3.5% this year.
The new government led by Prime Minister Srettha Thavisin, who is also finance minister, seeks to revise the Southeast Asia’s second largest economy and deliver on key campaign promises. It is due to deliver its policy statement on September 11.
Thailand’s economy grew 1.8% in the second quarter of this year, sharply slowing from the previous quarter of 2.6%, as weak exports and investments undercut tourism strength.
Compared to other countries in the Southeast Asian region, Thailand’s Gross Domestic Product (GDP) in the second quarter of 2023 was only higher than Singapore (0.7%) and lower than Malaysia, Vietnam, and Indonesia with 2.9%, 4.14% and 5.7%, respectively./.
Source: Vietnam News Agency