IMF cuts Thai GDP growth forecast to 2.7% for 2023

The IMF has lowered Thailand’s economic growth rate for this year and 2024 due to global uncertainties, including China’s economic slowdown and conflicts between Israel and Palestine.

Key Takeaways

• Global economic uncertainties, including China’s slowdown and conflicts between Israel and Palestine, have led to a downward revision in Thailand’s growth rate.
• Rising global oil prices following the Israel-Palestine conflict could potentially impact the global economy and lead to an increase in inflation worldwide.
• Thailand’s inflation rate remains relatively low compared to other ASEAN countries, thanks to government assistance programs and decreasing food prices in the region.

The report also mentions that Thailand’s inflation rate remains relatively low compared to other ASEAN countries, partly due to government assistance programs and decreasing food prices in neighboring…