World Bank cuts Thai GDP growth outlook to 1% this yearFILE PHOTO: There are no tourists to be seen at Shiva Samui resort on July 20, 2021. The economy is now expected to return to its pre-pandemic level in 2023, Kiatipong Ariyapruchya, senior World Bank economist for Thailand, told a virtual briefing. Tourist arrivals are seen at 1.7 million next year, when the economy is forecast to grow 3.6%, he added. Exports and fiscal measures had provided support in the meantime and the World Bank backed the government's lifting of the public debt ceiling to help the economy, Mr Kiatipong said. The World Bank's 2021 economic outlook compared with growth of 1.3% predicted by the finance ministry and 0.7% by the central bank.

Source: Bangkok Post September 28, 2021 07:29 UTC