Thai GDP Expected to Expand by 2.5% in 2023
The Office of the National Economic and Social Development Council (NESDC) has revised its GDP forecast for the year 2023, projecting a growth of 2.5% and to further expand by 2.7-3.7% in 2024.
The Office of the National Economic and Social Development Council (NESDC) has revised its GDP forecast for the year 2023, projecting a growth of 2.5% and to further expand by 2.7-3.7% in 2024.
The Ministry of Finance has lowered Thai 2023 economic growth outlook to 3.5% from 3.6% projected earlier.
The governor of the Bank of Thailand (BOT) expects the gross domestic product will increase by 3.3% this year and 4.2% next year while the number of visitors is rising faster than anticipated and should reach 6 million throughout this year.
Thailand’s private sector expects the country’s GDP to contract 7-9 percent this year after recording the worst decline due to the pandemic in the second quarter.
Thailand’s GDP will contract by 8.5 percent this year due to the global pandemic, says the Finance Ministry.