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Thailand’s First-Quarter GDP Shows Growth But Also Challenges Ahead

Looser fiscal policy and the continued recovery in services exports should help support economic activity, emerging Asia economist Shivaan Tandon wrote in a commentary. But given the weakness of the country’s recovery since the pandemic, Capital Economics continues to expect growth to clock in at an underwhelming 3.0% this year, “leaving the economy with plenty of spare capacity,” Tandon said.

“And with inflation set to stay low, we think the central bank of Thailand is likely to start cutting interest rates from June,” he said.

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