BANGKOK (NNT) – The Fiscal Policy Office (FPO) says domestic virus inoculation, foreign tourist arrivals and export growth are among the key variables determining the revision of GDP growth outlook this year.
FPO adviser Wuttipong Jittungsakul said other factors influencing the economic growth assessment are the impact of the drought on agriculture and the efficacy of the government’s financial relief measures to sustain private consumption.
He said the agency plans to update its economic growth projection for Thailand again in April, adding that domestic economic conditions slowed in January compared with December as there was a steep contraction in car purchases.
The FPO forecasts full-year foreign tourist arrivals at 5 million this year, down from 8 million projected previously, while exports to expand by 6.2% based on economic recovery among Thailand’s major trading partners, such as China, the euro-zone bloc, Japan, Malaysia, the US and Vietnam.
