BANGKOK, Jan. 10 (Xinhua) -- Thailand's economy is expected to expand between 2.8 percent and 3.3 percent this year, a joint business group said on Wednesday, maintaining its previous projection.
The growth will be bolstered by government stimulus measures, such as a tax rebate scheme and the ongoing recovery in the tourism sector, which is anticipated to welcome up to 34 million foreign tourists in 2024, according to the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).
The global economy is facing increasing uncertainty due to geopolitical conflicts. These uncertainties are compounding the global slowdown, and make it necessary to monitor the impact on Thai exports, a key driver of the kingdom's economic growth, the JSCCIB said in a statement.
The JSCCIB noted that the government should accelerate the disbursement of the budget, implement additional stimulus measures, and coordinate with state enterprises and local governments to expedite the use of existing investment budgets to keep the economy moving forward.
For 2023, the Southeast Asian country's economy is expected to have expanded between 2.5 percent and 3.0 percent, as projected earlier, the JSCCIB said. ■
