Thai finance ministry maintains 2023 GDP growth outlook, sees more tourists

<html xmlns=""><head><title>UPDATE 2-Thai finance ministry maintains 2023 GDP growth outlook, sees more tourists</title></head><body>

Maintains 2023 GDP growth outlook at 3.8%, cuts 2022 estimate

Raises 2023 foreign tourist forecast to 27.5 mln from 21.5 mln

Cuts 2023 export growth forecast to +0.4% from +2.5%

Sees average baht strengthening, inflation easing this year

Adds details, official's comments

By Orathai Sriring and Kitiphong Thaichareon

BANGKOK, Jan 27 (Reuters) -Thailand's finance ministry on Friday maintained its economic growth outlook for 2023 at 3.8%, helped by a rebound in tourism and domestic demand, but an official said exports would slow down this year.

Southeast Asia's second-largest economy likely expanded 3.0% in 2022, down from a previous forecast of 3.4%, as exports, public investment, and private consumption slowed, Pornchai Thiraveja, head of the ministry's fiscal policy office, told a briefing.

Official gross domestic product (GDP) figures for 2022 are due to be released next month. In 2021, GDP grew 1.5%, among the lowest rates in the region.

"The economy continues to recover, with 2022 growth returning to pre-COVID levels... therefore, fiscal measures will only be used as necessary and will be targeted," Pornchai said.

"The tourism sector has picked up steadily as the world has relaxed international travel measures," he added.

Thailand's economic recovery has lagged that of other Southeast Asian nations, with the crucial tourism sector just starting to rebound last year with 11.15 million foreign tourist arrivals.

Since the new year began, Thailand has booked 1.34 million foreign tourists.

The country is expected to receive 27.5 million foreign arrivals this year, up from 21.5 million projected earlier, helped by China's reopening, Pornchai said.

The government is expecting at least 5 million Chinese visitors this year, about half of the figure in pre-pandemic 2019.

Overall foreign tourist arrivals reacheda record of nearly 40 million in 2019, with spending at 1.91 trillion baht ($58.07 billion). Tourism accounted for about 12% of GDP.

However, exports ,another key driver of growth, could increase just 0.4% this year, rather than rise2.5% as projected earlier due to a global slowdown, Pornchai said.

A stronger baht THB=TH is not helping exports. The ministry predicted the baht to average 32.5 per dollar this year after 35.07 last year, as Thailand is among countries that are expected to have a continued economic recovery, Pornchai said.

Average headline inflation is expected at 2.8% this year, Pornchai said, down from a 24-year high of 6.08% last year, which was far above the central bank's target range of 1% to 3%.

($1 = 32.89 baht)

Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai
Editing by Kanupriya Kapoor


免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。