Thailand’s economy is projected to expand 3.9% in 2023 from 2.6% last year because of stronger demand from China, Europe and the US, private consumption growth and a recovery in tourism, says the World Bank in its semi-annual Thailand Economic Monitor. Growth is expected to moderate to 3.6% next year and 3.4% in 2025, with tourism and private consumption remaining the primary drivers of growth while external demand weakens, according to the report. Inflation is expected to ease in 2023 to 2% as global energy prices dip and face price caps, although when volatile food and energy prices are excluded, core inflation remains higher than before the pandemic. The return of tourists has strengthened the industry. Despite recent growth, risks remain titled to the downside as weak global growth and political uncertainty pose key challenges to the near-term outlook, said the bank. In addition, Thailand faces structural headwinds including an aging population, climate pressure, declining export competitiveness and high household debt. (ICE BANGKOK)

Fonte notizia: Bangkok Post