Bangkok, Thailand – Thailand’s Ministry of Finance has announced a pessimistic revision of its economic growth and inbound tourism forecasts for the current year. It also warned that escalating military tensions and wars in the Middle East are beginning to cast a long shadow over the Southeast Asian nation’s economy.
A sharp decline in GDP
According to Agence France-Presse, the ministry stated in an official statement that the country’s GDP growth is expected to fall to just 1.6%, a significant decline compared to the 2.4% growth rate…
