The Ministry of Finance reveals that the economy in August 2023 received support from expanding tourism. Exports return to positive, inflation decreases, keeping an eye on the global economy slowing down.

Mr. Pornchai Theerawet, Director of the Fiscal Policy Office, revealed that The economic situation in August 2023 was supported by tourism. Continuously expanding Merchandise exports returned to positive growth. Inflation rate continues to decline It is still necessary to monitor the global economic situation and the impact on Thailand’s merchandise export sector during the remainder of 2023 by private consumption. There are signs of stability from the same period last year. from passenger car sales Increased 4.9 percent. The Consumer Confidence Index increased to 56.9 from 55.9 in the previous month. Consumers believe that the establishment of the new government will be a supporting factor in driving the economy to recover.

Thai economic indicators on the supply side There are signs of improvement from the same period last year from the agricultural and service sectors, as reflected in the agricultural product production index. In August 2023, an increase of 2.1 percent from the same period last year. Foreign tourists. A total of 2.47 million people traveled to Thailand, an increase of 107.7 percent but a decrease of -8.2 percent compared to the previous month. Most of them were tourists from Malaysia, China, South Korea, India and Vietnam.

Economic stability remains good. This is reflected in the general inflation rate in August 2023 at 0.88 percent, while the core inflation rate was 0.79 percent. The public debt ratio at the end of July 2023 stood at 61.7 percent per GDP, still under the framework of fiscal discipline. Unemployment rate 1.0 percent of the total labor force International reserves at the end of August 2023 reached USD 216.9 billion. .-Thai News Agency

Source: Thai News Agency