(Photo: Nutthawat Wicheanbut)Thailand's economy is expected to grow by 2.9% this year, down from a previous prediction of 3.9%, the World Bank said on Tuesday. Warunthorn Puthong, an economist at the World Bank, said the downgrade was mainly due to external risk factors such as the Russia-Ukraine war, which has sent domestic energy prices soaring. However, the World Bank believes the Thai economy is on the path to recovery this year. The World Bank expects 6.2 million foreign tourists to visit Thailand this year, she said. The war in Ukraine threatens an uneven recovery for developing East Asia and Pacific (EAP) countries, the World Bank said.

Source: Bangkok Post April 06, 2022 10:02 UTC