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Thai finance ministry slashes GDP outlook over coronavirus return but March exports jump 15.8% y/y, current acc deficit narrows


BANGKOK, May 2 (Reuters): Thailand s finance ministry has reduced its 2021 economic growth forecast for a second time this year to 2.3% from 2.8% growth, after a third wave of coronavirus infections struck the tourism-reliant nation this month. Thailand s latest Covid-19 outbreak has seen half of its overall cases reported this month alone and came as the Southeast Asian country was preparing to reopen more broadly to foreign tourists, as vaccinations increase globally. The ministry slashed its forecast for the number of foreign tourists to only 2 million this year from 5 million it had predicted three months ago, senior ministry official Kulaya Tantitemit told a briefing. That compares to nearly 40 million in 2019, before the pandemic hit. The expected fewer tourists will have quite an impact as that will cut tourism money to just over 100 billion baht ($3.2 billion) from 260 billion baht previously projected, she said. Tourism generally accounts for 12% of ....

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