AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

BANGKOK: Thailand’s economic growth is expected at 2.8% this year before accelerating to 3.0% in 2025, the World Bank said on Monday, on account of weak exports and a delayed budget.

The growth outlook for 2024 and 2025 was reduced from 3.2% and 3.1% respectively, as forecast in December.

Southeast Asia’s second-largest economy expanded 1.9% in 2023 and unexpectedly shrank 0.6% in the final quarter of 2023 from the third.

Thailand’s central bank in February also lowered its 2024 growth outlook to 2.5% to 3.0% from 3.2%.

The cut stems from global trade slowing while the delayed budget slowed government spending, World Bank Senior Economist Kiatipong Ariyapruchya, told reporters in a virtual briefing.

Dimmer export and public investment prospects also attributed to new outlook, the World Bank said in statement.

The shipper’s council expects exports to grow 1% to 2% this year.

Tourism and private consumption will be key growth drivers, the World Bank said, with tourist arrivals projected to reach 90% of pre-pandemic levels this year.

The government is aiming for a record of 40 million foreign visitors this year after welcoming 28 million visitors in 2023.

Prime Minister Srettha Thavisin has characterised the economy as facing a “crisis” and in need of a major fiscal stimulus through his government’s delayed signature policy, a $14 billion handout to 50 million Thais.

Fraud in group-financed projects: WB debars two consultancy firms, Pakistani national

The ‘digital wallet’ scheme could add 1% to growth but will increase public debt, Kiatipong said.

Comments

Comments are closed.