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Thai central bank chief says economic engines not as strong as before

Thailand's exports and foreign direct investment have lagged behind Vietnam, while its ageing population will also weigh on growth," Sethaput said.

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The central bank forecast growth of just 0.7% this year and 3.9% next year, following a 6.1% contraction in 2020 when the pandemic devastated tourism.

Reuters
Thailand's economic engines may not be as strong as before and the country's important tourism sector may take longer to normalise, its central bank governor said on Thursday.

Factors that will be key to future growth are the digital economy and sustainability, Bank of Thailand Governor Sethaput Suthiwartnarueput told a business seminar, discussing the post-pandemic economy.

"The growth story ahead must focus on inclusive growth to make the economy more resistant to challenges," he said.
After 40 years, Southeast Asia's second-largest economy still has a similar structure, relying on exports of the same sectors such as autos, petroleum and petrochemicals, electronics and tourism,

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