BoT revises growth forecast to 1.8%

The Bank of Thailand (BoT) has slashed the country’s economic growth forecast again for this year to 1.8% from an earlier projection of 3%, due to lower foreign tourist arrival estimates and lower domestic demand due to the third wave of Covid-19.

Under the downside risk outlook, the central bank has revised its forecast of 2021 foreign tourist arrival numbers to 700,000 from 3 million earlier. It has also revised down offshore travellers for 2022 from 21.5 million to 10 million.

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Bangkok Post Reporter