The Finance Ministry has cut its economic forecast for 2021 to 2.8% from the 4.5% expected in October, factoring in the resurgence of Covid-19 and fresh government stimulus measures.
Thursday’s downgrade follows similar recent warnings that Thailand faces downside risks.
Earlier this month, the central bank signalled its own 3.2% GDP growth forecast for the year may need to be reduced. The International Monetary Fund also recently lowered its 2021 GDP estimate for Thailand to…