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Thursday, May 2, 2024

Business group trims 2022 growth outlook over Ukraine war

A local resident sits near an apartment building damaged in the southern port city of Mariupol, Ukraine, on Monday. The Joint Standing Committee on Commerce, Industry and Banking revises down Thailand’s economic growth forecast due to the Russian invasion of Ukraine. (Reuters photo)

Thailand’s leading joint business group on Tuesday trimmed its economic growth forecast for this year due to the impact of the Russia-Ukraine war on global growth and energy prices.

The Joint Standing Committee on Commerce, Industry and Banking trimmed the economic growth forecast to 2.5% to 4% from a previous forecast of 2.5% to 4.5%.

Their inflation forecast was raised to 3.5% to 5.5% this year from a previous projection of 2% to 3%, it said in a…

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