Thailand's economy to improve further on consumption, tourism

The Bank of Thailand (BoT)'s Senior Director Chayawadee Chai-Anant (Photo: pattayamail.com)

Bangkok (VNA) - Thailand’s economyimproved in June and the momentum is expected to continue into the second halfof 2022 thanks to increased tourism and domestic consumption as pandemic curbseased.

The Bank of Thailand (BoT)'s Senior Director ChayawadeeChai-Anant said the tourism sector will play an important part in pushing thecountry’s economic recovery in the second half of 2022.

She cited an increase in foreign visitors from520,000 in May to 765,000 in June, saying that the number of tourists this year couldexceed the bank’s current prediction of 6 million people.

The senior director also stated that the centralbank maintains its 2002 GDP growth rate forecast of 3.3%, as indicators signalthat the country’s economic recovery will continue to accelerate in the year’ssecond half.

She added that the bank would continue to watchlocal and global economic situations closely in the face of severaluncertainties.

The Fiscal Policy Office (FPO) has recentlyannounced that it will keep its forecast for economic growth this year at anaverage of 3.5%, owing to the recovery in domestic consumption and the tourismsector.

The FPO also raised its forecast for foreign touristarrivals this year to 8 million people, up from 6.5 million previouslyestimated in April./.

VNA