Thailand's economy is expected to grow 2.5% to 3.0% this year, unchanged from a previous forecast, helped by government support measures and tourism, a leading joint business group said on Wednesday.
Exports, a key driver of the Thai economy, are expected to fall between 1% to 2% this year, versus a previous projection of a 0.5% to 2.0% drop, said the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), which includes representatives from those sectors.
"The Israel-Hamas war is a new risk to the global economy," the group said.
The tourism sector might see foreign tourist arrivals of 28 million to 29 million this year, down from 29 million to 30 million seen earlier, the group said.
Southeast Asia's second-largest economy grew just 1.8% year-on-year in the second quarter, sharply slowing from the previous quarter, as weak exports and investment undercut strength in tourism. The economy expanded 2.6% last year.
Meanwhile, the Finance Ministry reported that the country's public debt to gross domestic product (GDP) ratio stood at 62.14% at the end of September, up from 61.78% in the previous month.
