Thai Finance Ministry Cuts GDP Outlook After Deadly Covid Wave
- Ministry now expects GDP to grow 1%, down from 1.3% earlier
- Tourism recovery expected to drive growth higher in 2022
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Thailand’s economy is set to expand more slowly than previously expected this year as the country emerges from its deadliest Covid-19 outbreak, the Finance Ministry said.
The ministry on Thursday lowered its gross domestic product forecast to 1% expansion, from 1.3% predicted in July. It’s the ministry’s fourth revision this year after a wave of cases that began in April triggered restrictions on businesses and travel that crippled growth.