People stroll at a shopping mall in Bangkok, Thailand, Nov. 5, 2024.(Xinhua/Rachen Sageamsak)
BANGKOK, Oct. 31 (Xinhua) -- Thailand's Ministry of Finance said on Thursday that the country's economy is expected to expand 3 percent in 2025, primarily driven by private consumption, exports, tourism, and investment.
The Southeast Asian country's economy is projected to grow 2.7 percent this year, unchanged from the previous forecast and accelerating from 1.9 percent growth recorded in 2023, said Pornchai Thiraveja, director general of the ministry's Fiscal Policy Office.
The recovery is attributed to the rebound in the vital tourism sector, as the number of foreign arrivals to Thailand in 2024 is expected to reach 36 million. Meanwhile, private consumption is projected to continue its upward trend, growing by 4.6 percent, Pornchai told a news conference.
Looking ahead to 2025, Thai exports would see an expansion of 3.1 percent year-on-year in line with global demand and the economies of the kingdom's trading partners, he said, adding that investment from both the private and public sectors would also be a crucial driver. ■
