Thai Government Aims to Lift 2024 GDP Growth to 3% by Tourists, Investment
- Government also wants to quicken budget disbursement to 70%
- Pichai says government can’t ‘sit still’ with low GDP growth
A workers delivers goods in Chiang Mai, Thailand.
Photographer: Taylor Weidman/BloombergThis article is for subscribers only.
Thailand is counting on 1 million more foreign tourist arrivals and faster government spending to help boost economic growth this year to the fastest pace in six years.
The country targets 36.7 million travelers this year, 1 million higher than the previous estimate to help boost gross domestic product growth to 3%, Finance Minister Pichai Chunhavajira told reporters after the meeting of economic ministers on Monday. The latest GDP projection was higher than forecasts by the planning agency and the central bank, and would be the fastest pace since 2018, if it materializes.