The Bank of Thailand is poised to lower its 3.2% growth forecast for Thailand this year against the backdrop of increasing downside risks stemming from the persistent Covid-19 outbreak.
Although the central bank’s Monetary Policy Committee (MPC) assesses that the impact of the recent outbreak on Thailand’s economy would be less severe than last year because containment measures are not as stringent, the economy is expected “to expand somewhat lower than the previous forecast”, said MPC secretary Titanun Mallikamas.
Foreign tourist arrivals for this year are also expected to be lower than the existing projection, said Mr Titanun.
He did not elaborate on the MPC downgrades to this year’s GDP…
