Tourists visit Wat Arun, or the Temple of Dawn, on April 27. Foreign arrivals fell in April. (Photo: Varuth Hirunyatheb)
Thailand posted a record-high current account deficit of $7.6 billion in April, with economic growth slowing from the previous month from the impacts of the Middle East war and expected to get weaker, the Bank of Thailand said on Friday.The record-high deficit was not a worry yet and should be temporary, Assistant Governor Chayawadee Chai-anant said, adding the Iran war was expected to end in the middle of the year.
The baht will remain highly volatile, reflecting uncertainty, Ms Chayawadee told a briefing.
In April, tourist arrivals and spending weakened and private consumption fell as a result of lower spending on consumer goods and fuel, with higher energy prices raising the cost of living, the central bank said in a statement.
Headline inflation turned positive, driven by higher domestic petrol and diesel prices. Core inflation rose as energy costs were passed through into food and public transport prices, it said.
