Despite first-half volatility, the central bank governor stated Monday that Thailand’s economy would rise 3.6% this year.
Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput told reporters exports are expected to fall 7.1% in the first half of 2023 before rising 4.2% in the second half.
Tourism is projected to aid Southeast Asia’s second-largest economy’s slow recovery.
Sethaput predicted 28 million foreign tourists this year.
Headline inflation, which fell to 2.83% in March, is forecast at 3.3% in the first half and 2.5% in the second.
The BOT hiked its benchmark rate by a quarter point to 1.75% last month to reduce inflation. On May 31, economists forecast another rate hike.
Since August, the BOT has lifted its key rate by 125 basis points, less than its peers.
