Cars and motorbikes navigate through a busy street in Bangkok, Thailand - Illustrative image (Source: imf.org)

Bangkok (NNT/VNA) - The International Monetary Fund (IMF) has raised its Thai economic growth projections for this year and next from 3.9 percent to 4.6 percent and 3.8 percent to 3.9 percent, respectively. 

In the IMF’s World Economic Outlook, October 2018, the IMF sees a decrease in global GDP following the higher risks presented by the trade war, economic vulnerability in some countries as well as global financial conditions which are tending to continue to tighten.

The US’ economy is forecast to grow by 2.9 percent this year and 2.5 percent next year, slightly lower than the previous projections. The Chinese economy is projected to grow by 6.6 percent and 6.2 percent in 2018 and 2019 respectively. 

The IMF projects that the Asian economy will grow by 6.5 percent this year and 6.3 percent in 2019. As for Thailand, the IMF raises the 2018 and 2019 economic growth to 4.6 percent and 3.9 percent respectively.

Although the IMF predicts lower Thai economic growth for 2019, the prediction is still higher than the average projection of 2.8 percent a year over the past five years.-NNT/VNA