World Economy

Thai Economy Recovering

Thai Economy RecoveringThai Economy Recovering

Thailand’s economy is recovering gradually but is stronger than that of many countries, the central bank governor said on Friday, amid concerns that a year of mourning for revered King Bhumibol Adulaydej could affect tourism and consumption, Reuters reported. “Although the Thai economy today is recovering gradually, it is more stable than many other industrialized and emerging countries because it has good buffers,” Bank of Thailand Governor Veerathai Santiprabhob told an economic seminar. Thai growth has been slow for years, due to weak exports and domestic demand. The central bank has forecast Southeast Asia’s second-largest economy will grow 3.2% this year and again in 2017. Last year’s growth was 2.8%.

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