Although the Bank of Thailand’s revised GDP growth forecast of 3.2-3.8% next year is possible, analysts are warning that an economic slowdown in China and the US means downside risks remain, while the effectiveness of government stimulus to ignite the economy is questioned.
Nattaporn Triratanasirikul, deputy managing director of Kasikorn Research Center (K-Research), said the central bank’s forecast for 2024 is in line with the think tank’s estimate, with its official forecast scheduled for release on Dec 12.
K-Research cut Thailand’s 2023 growth outlook to 2.5%, from 3%, late last month as GDP expanded by only 1.5% in the third…
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