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.
About the author
Boris Sullivan is a business news editor based in Hong Kong. He has over 15 years of experience in covering the latest trends and developments in the Asian markets, as well as the global economy.