The Fiscal Policy Office (FPO) has downgraded its 2022 Thai economic growth forecast to 3.4% from the 3.5% projection it made in July.
The agency predicts higher economic growth of 3.8% next year, mainly driven by an increase in foreign tourist arrivals.
The office projects growth this year in a range of 2.9-3.9%, with an average of 3.4%, FPO director-general Pornchai Thiraveja said yesterday. The downgrade is attributed to slowing private investment, especially in the construction sector, which has seen rising costs.
