Thailand’s economic recovery remains intact

Finance Minister Arkhom Termpittayapaisith said that Thailand’s economy will continue its post-pandemic recovery as state investment projects are accelerated. He said that Thailand’s economy is expected to grow by 3% to 3.5% this year, brought about by public investments and a pick-up in the vital tourism sector. Arkhom added that public investments are currently worth about THB1tr a year. He said they have to ensure the recovery remains intact. With pandemic curbs lifted, the tourism sector, a key driver of Thai growth, is expected to see 8 million to 10 million foreign tourist arrivals this year. The figures are a surge from about 428,000 foreign tourists in 2021, when the economy expanded 1.5 percent, among the slowest in the region. There were nearly 40 million foreign visitors in 2019.