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VIEW: DBS Positive On Outlook, Inflation Lower Than Expected

THAILAND

DBS has published an updated Thai economic outlook. It sees economic fundamentals improving with the main downside risk coming from political uncertainty related to May’s election. The 2023 current account surplus forecast has been revised up to 2.5% of GDP from 1.4% due to the recovery in tourism from China. Its 2023 headline inflation projection has also been revised down to 1.7% from 2.5% on the back of lower recent results and “contained global commodity prices”. The BoT remains concerned about upside risks to inflation.

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