Government spokesman reveals GDP in 2023 grew only 1.8 percent.

Ranong,, A government spokesperson revealed information from the Ministry of Finance, expecting GDP in 2023 to grow only 1.8 percent, compared to the BoT's forecast at the beginning of the year to grow 3.6 percent, hoping for foreigners to enter Thailand and generate income of 1.48 million. Million baht Mr. Chai Watcharong, spokesman for the Prime Minister's Office, said the Ministry of Finance It is estimated that the Thai economy in 2023 will expand at 1.8 percent per year, compared to the BoT's forecast of 3.6 percent growth, which is considered to be a slower growth than in 2022, expanding at 2.6 percent and having increased momentum to 2.8 percent per year in this year. 2024 from the high expansion of goods and services export sector. and private consumption that expanded It is still considered an important driving force. The Thai economy in 2023 slowed down from 2022 which expanded at 2.6 percent due to the contraction of industrial production. In the automotive category Computers and electronics As f or the value of merchandise exports for the entire year 2023, it is expected that it will shrink at -1.5 percent because of the economy of Trading partner countries slow down import value Shrank at - 1.9 percent. For 2024, the Ministry of Finance expects that the Thai economy Expands at an accelerated rate of 2.8 percent per year (forecast range (2.3-3.3 percent), expanding at an accelerated rate from 2023, supported by factors from The export sector expanded highly. The tourism sector expects that in 2024 there will be foreign tourists. 33.5 million people traveled into the country, expanding 19.5 percent per year, especially China and Malaysia, with foreign tourism income of 1.48 trillion baht, an increase of 23.6 percent per year, having a positive impact on the tourism business and related fields. In addition, it is expected that merchandise exports will expand 4.2 percent per year. Imports will expand 4.0 percent per year, driven by private consumption. Continuously expanding at 3.3 percent per year, p rivate investment is expected to expand at 3.2 percent, general inflation is 1.0 percent per year, while stability outside the country The current account balance in 2024 is likely to return to a surplus of 10 billion US dollars. or equivalent to 1.8 percent of GDP Ministry of Finance We still need to closely monitor important factors affecting the Thai economy, such as global geopolitical conflicts in various regions that may become more severe. It may be a constraint and affect the growth of the Thai economy, such as the strategic competition between China and the United States. Battle between Israel and Hamas the protractedness of the war Russian-Ukrainian Volatility in the global financial market from the implementation of monetary policy Strict conditions of main trading partners and problems with financial institutions in foreign countries, including the United States and Europe.- Source: Thai News Agency