(CTN News) – According to a statement released by the Central Bank of Thailand on Friday, the economy resumed its road toward recovery in May but at a slower pace than the previous month. This was brought down by a fall in exports, industrial output, and private investment.
Bank of Thailand operations in the critical tourist sector are slowly
According to the Bank of Thailand, operations in the critical tourist sector slowly picked up throughout the last month, and there was also a minor rise in private spending. The acceleration of budget disbursements, particularly investments in infrastructure projects, contributed to the rapid growth of government expenditure, which increased dramatically from the previous year to the current one.
According to a statement released by the central bank, headline inflation increased in May due to rising costs for raw food and energy. This was partially due to a low base impact caused by the government’s implementation of power subsidies in the previous year and the progressive withdrawal of subsidies on diesel fuel.
Looking to the future, we can see that the tourist industry and growing public expenditure will continue to help the Southeast Asian economy. According to the Central Bank, however, it is anticipated that exports and industrial output will rebound slowly, especially in some sectors under extra pressure due to structural causes.