Predicting that the number of foreign tourist arrivals will reach 27mn this year, Finance Minister Arkhom Termpittayapaisith also expects the economy to grow by 3-4% this year, reports state news agency NNT.
He stressed the importance of cooperation between monetary and fiscal policy bodies to achieve growth and stability.
Meanwhile, the Bank of Thailand said the country’s fiscal position remains stable with public debt at 61.26% of gross domestic product (GDP) as of February, and foreign debt also low, reported NNT.
As Thailand gears up for the national election on May 14, Arkhom advised that government spending should continue as usual, but there may be some impact on new investment projects before a new government is formed.
He also expects the baht to remain volatile, driven by external factors, but its moves have stayed within a range seen earlier in the year.