Mega projects, tourism to propel Thailand’s growth this year, finance chief says

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 per cent this year even though a below-par performance last quarter needs to be factored in, Mr 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,” Mr 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.”

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