Thailand’s economy is improving-Minister Finance
2022.12.07 01:14
Thailand’s economy is improving-Minister Finance
Budrigannews.com – The finance minister stated on Wednesday that further interest rate increases will be gradual to ensure that Thailand’s economy continues to recover despite global uncertainty.
Arkhom Termpittayapaisith stated at a business forum that Southeast Asia’s second-largest economy is stable, with relatively low interest rates, sufficient liquidity, and solid fiscal and financial positions.
He stated, “The Thai economy has demonstrated once more that it is extremely resilient and can weather the storms,” noting that annual growth of 4.5 percent in the third quarter was the fastest pace in more than a year.
According to Arkhom, who cited the ministry’s forecasts, Thailand’s economy is anticipated to expand by 3.4% this year and 3.8% next year, with the tourism industry serving as a major driver.
However, he stated at the end of the month that, despite the fact that the outlook for this year should be met, the economy may not reach the 3.8% growth forecast for next year due to a slowdown in the global economy.
Thailand’s crucial tourism industry has only begun to recover this year, putting it behind other Southeast Asian nations in terms of economic recovery.
The economy expanded by 1.5% in 2013, one of the region’s slowest rates.
