Thailand lowered its 2025 economic growth forecast to 1.3-2.3%, down from 2.3-3.3%, due to uncertainty surrounding US trade tariffs and a projected decline in tourism. The country faces a potential 36% levy unless an agreement is reached with the US. Q1 2025 growth was 3.1% year-on-year, but officials anticipate a slower second quarter as businesses delay investments pending trade talk outcomes. Tourist arrival projections were also reduced to 37 million from 38 million, following a decrease in Chinese tourists.
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