Thailand’s economy in 2019 forecast to see weakest growth in five years
Thailand’s economy this year is forecast to see the weakest pace of growth in five years due to impact from global trade tensions and rising domestic currency.
Illustrative image (Photo: Internet) Hanoi (VNA) – Thailand’s economy this year is forecast to see the
weakest pace of growth in five years due to impact from global trade tensions
and rising domestic currency.
According to the Bank of Thailand (BOT), exports may fall 3.3 percent in 2019, according to the Bank of Thailand (BOT).
Besides, a strong Thai Baht, which has gained 8.3 percent against the dollar in 2019 and is Asia's top-performing currency, has added to the pressure on exports.
The BOT, after several downgrades, predicts it will be just 2.5 percent this year, the weakest pace since 2014.
The central bank forecasts the economy will be 2.8 percent in 2020, while exports rise just 0.5 percent./.
According to the Bank of Thailand (BOT), exports may fall 3.3 percent in 2019, according to the Bank of Thailand (BOT).
Besides, a strong Thai Baht, which has gained 8.3 percent against the dollar in 2019 and is Asia's top-performing currency, has added to the pressure on exports.
The BOT, after several downgrades, predicts it will be just 2.5 percent this year, the weakest pace since 2014.
The central bank forecasts the economy will be 2.8 percent in 2020, while exports rise just 0.5 percent./.
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