Sagging exports to drive down economic growth to as low as 3.3% this year, research house says
Krungthai Macro Research has slashed its forecast for Thailand’s economic growth this year to 3.3 per cent, against the 3.8 per cent expansion it forecast in the first quarter of this year.
Exports were singled out as the key negative factor driving down growth in gross domestic product (GDP). The research group on Thursday predicted that the value of shipments will by grow by only 0.8 per cent, largely due to the effects of the trade war between the US and China and the appreciation of the baht since the beginning of the year.
The baht is predicted to reach 30.25 to the US dollar by the end of 2019. Krungthai Macro Research expects the Bank of Thailand to maintain its policy rate at 1.75 per cent into 2020.
