Deputy Government Spokesperson Traisulee Traisaranakul reported that Thailand has seen a rapid recovery in its tourism sector, with 5.57 million foreign tourist arrivals recorded between January and March 18 this year.
Predicting that the number of foreign tourist arrivals will reach 27 million this year, Finance Minister Arkhom Termpittayapaisith also expects the economy to grow by 3-4% this year. He stressed the importance of cooperation between monetary and fiscal policy bodies to achieve growth and stability.
Meanwhile, the Bank of Thailand said the country’s fiscal position remains stable with public debt at 61.26% of gross domestic product (GDP) as of February, and foreign debt also low.
As Thailand gears up for an election in May, Arkhom advised that government spending should continue as usual, but there may be some impact on new investment projects before a new government is formed. He also expects the baht to remain volatile, driven by external factors, but its moves have stayed within a range seen earlier in the year. (NNT)
