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SCB EIC expects a slower growth momentum for Thai economy, underweighting recovery in 2024.
In Q4/2023, Thai economic growth was modest at 1.7% year-on-year, with a -0.6% quarter-on-quarter contraction. Services sector boosted by tourism, but public investment decreased. Q1/2024 expected to have higher growth due to private consumption and despite delays in public spending. Overall, slow economic recovery expected in 2024.