Thai economy resilient, on path to full recovery: finmin

Thailand's economy is on a solid path to recovery and showing resiliency, helped by good revenue collection and a normalisation of its tourism sector, while inflation should come in below 3% this year, its finance minister said on Monday. Southeast Asia's second-largest economy expanded faster than expected in the first quarter of this year due to a revival in its vital tourism sector. "I'm confident that Thailand is firmly heading towards full recovery and soon return to its vibrant economy," he added. The World Bank in a statement on Monday said Thailand now needed to address growing spending needs, while keeping public debt under control. Thailand's public debt rose due to the pandemic response, but overall fiscal risks remain manageable, the bank said.