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World Bank cuts Thailand’s economic outlook to 2.4%



Thailand’s economic growth forecast for this year has been revised down to 2.4% from 2.8%, impacted by sluggish exports and public investment, the World Bank reported. Consumer spending, tourism recovery, and rebounding exports are expected to drive growth. Last year’s growth was 1.9%, trailing regional peers. Tourist arrivals are anticipated to hit 36.1 million, nearing pre-pandemic levels, largely due to an increase in Chinese visitors. For 2025, the growth projection is adjusted to 2.8%, supported by stronger domestic and international demand and higher government spending. Amidst these projections, the Bank of Thailand held its key interest rate at 2.5%, with the next review due on August 21. Additionally, a 500-billion-baht economic stimulus is planned for the fourth quarter.

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