BANGKOK, March 6 Reuters Thailand39;s economy is expected to grow 2.83.3 this year, maintaining a previous forecast, a leading joint business group said on Wednesday.

Exports, a key driver of the Thai economy, are projected to rise 23 this year, as per a previous forecast, said the Joint Standing Committee on Commerce, Industry and Banking, which includes representatives from those sectors.

Southeast Asia39;s secondlargest economy grew 1.9 last year.

The group maintained its forecasts because the government budget would be deployed in the second quarter, buoying the economy, Federation of Thai Industries Chairman Kriengkrai Thiennukul told reporters, adding the growth would see improvement in the second half the year due to improving tourist arrivals.

The group expects 34 million to 35 million foreign arrivals this year.

Tourism is another key driver of Southeast Asia39;s secondlargest economy. Before the pandemic, the country saw nearly 40 million visitors spending 1.91 trillion baht 53.41 billion.

In 2023, Thailand logged 28 million foreign visitors, generating 1.2 trillion baht 33.71 billion in tourism revenue.

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Reporting by Kitiphong Thaichareon and Chayut Setboonsarng; Editing by Martin Petty

Source Reuters