The Bank of Thailand (BOT) said that the country’s economy has been positively recovered in May due to the rising tourism on Friday, 30 June 2023.
“The economic recovery remained on its recovery track,”said Sakkapop Panyanukul, a senior director at the BOT.
“Economic activity in June and going forward should gradually improve,” he added.
According to Reuters, Thailand recorded a current account deficit of $2.8 billion in May, compared to a revised deficit of $0.6 billion the previous month, the BOT said.
Nevertheless, the overview export rate was considered weak. It contracted for the eighth month in a row in May, down 5.9% from a year earlier, as global demand slowed.
Overall, the BOT’s expectation was for economic growth to reach up 3.6% in 2023 and 3.8% next year.
