Mega Projects, Tourism to Propel Thailand’s Growth, Finance Chief Says
- Expanding domestic demand, services to help economy: Arkhom
- Possible delay in 2024 budget unlikely to derail recovery
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A slew of billion-dollar infrastructure projects and an upswing in tourism will fuel Thailand’s expansion this year, shielding the economy from weaker exports and any possible delay in the budget approval due to elections, according to Finance Minister Arkhom Termpittayapaisith.
Government approvals for three projects at a combined investment of about 524 billion baht ($14.9 billion) will ensure capital spending remains on track, Arkhom said in an interview Monday in his office, citing a high-speed railway line connecting three airports, an expansion of an airport southeast of Bangkok and a deep seaport. Private sector investment was on the mend too with rising imports of machinery and equipment, he said.