SCB EIC expects a slower growth momentum for Thai economy, underweighting recovery in 2024.

Despite a modest 1.7% year-on-year growth in Q4/2023, the Thai economy struggled with challenges such as a decline in public consumption and investment. SCB EIC anticipates higher growth in Q1/2024, driven by robust private consumption and a resurgence in exports. However, a slow recovery is expected in 2024 due to various risks and limited public spending support.

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