Finance Minister Arkhom Termpittayapaisith says the Thai economy this year is expected to grow within the target margin between 3% and 3.5% this year, thanks to the recovery of the tourism sector.

Thailand is expected to welcome more international tourists next year, as more countries reopen their borders.

4% growth expected in 2023

The Thai economy is expected to grow by 4% next year, with more foreign currencies flowing into the country, according to a NNT report, as Thailand is expecting 8 million to 10 million foreign tourists this year according to Mr Arkhom.

New set of economic stimuli

The Ministry of Finance is preparing to roll out a new set of economic stimuli before the end of this year, in line with the government’s tradition to introduce the so-called gift packages for the general public.

The state welfare campaign for this year has seen 21.45 million applicants. The FPO says these rather high applications are a result of pandemic-driven economic impacts.

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