BANGKOK -Thailand’s economy grew at its fastest pace in more than a year, official data showed on Monday, boosted by a revival in tourism and increased consumption.
Southeast Asia’s second-largest economy expanded 4.5 percent in the September quarter from a year earlier, according to data from the National Economic and Social Development Council.Thailand’s economy is on a steady recovery path, with growth in the crucial tourism sector gathering pace after the government lifted all COVID-19 curbs earlier this year but the outlook is clouded by risks of slowing global growth and high inflation.
The government said the economy would grow 3.2 percent this year, compared with a previous forecast range of 2.7 percent to 3.2 percent. It projected 2023 growth at 3 percent to 4 percent. Last year’s 1.5 percent growth was among the slowest in the region.
Source: Financial Digest (financialdigest.net)
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