Thursday, September 19, 2019

World Bank sees Thai economy slowing to 3.8% this year

Jan 16. 2019
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By The Nation

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Amid a global slowdown and elevated trade tensions, the Thai economy is projected to grow by 3.8 per cent in 2019 and 3.9 in 2020, according to the World Bank’s Thailand Economic Monitor released on Wednesday.

 

 

 

Despite external shocks to trade and tourism, growth of the Thai economy is estimated to have accelerated last year to 4.1 per cent, the report says. 

It proved to be resilient in the face of strong global headwinds due to strengthening domestic demand, stemming from an upswing in private consumption and private investment.

Investing in human capital and pursuing economic reforms is critically important for Thailand to become a high-income nation with equal opportunities for all citizens, the World Bank said.

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