UTCC cuts GDP growth forecast to 2.5-3.5%
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GROSS domestic product could grow by as little as 2.5-3.5 per cent this year instead of the forecast 3.5-4.0 per cent, with the drought, high debt burden and sluggishness in the global economy and Thai exports hitting consumption, investment and domestic
Tris Rating also paints a weak picture for the Thai economy in 2016 with marginal growth of 2.7-3.0 per cent.
The major supportive factors are the effectiveness of government policies to stimulate domestic consumption, ability of the government to launch large infrastructure projects into real construction activities and recovery of agricultural-product prices.
The university’s Economic and Business Forecasting Centre also expects GDP to expand by only 2.9-3.9 per cent next year.
