According to Deputy Government Spokesman Traisulee Traisaranakul, Thailand’s tourism sector is rapidly recovering, with 5.57 million foreign visitor visits registered between January and March 18 of this year.
Finance Minister Arkhom Termpittayapaisith predicts that international visitor arrivals would exceed 27 million this year, and that the economy will rise by 3-4%. He emphasized the significance of collaboration between monetary and fiscal policymakers in achieving growth and stability.
Nevertheless, the Bank of Thailand said that the country’s fiscal condition is steady, with public debt at 61.26% of GDP in February and foreign debt at a low level.
As Thailand prepares for an election in May, Arkhom suggested that government expenditure should continue as usual, but that new investment projects may be impacted until a new administration is elected. He also expects the baht to continue volatile due to external causes, although its movements have remained within a range witnessed earlier this year.
