Thai economy in 2019 forecast to see weakest growth in five years

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.

Monday, December 30, 2019 20:58

Thailand’s economy in 2019 forecast to see weakest growth in five years ảnh 1

Illustrative image (Photo: Internet)

Hanoi (VNA) – Thailand’s economy this year is forecast to see theweakest pace of growth in five years due to impact from global trade tensionsand 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 in2019 and is Asia's top-performing currency, has added to the pressure onexports.

The BOT, after several downgrades, predicts it will be just 2.5 percent thisyear, the weakest pace since 2014.

The central bank forecasts the economy will be 2.8 percent in 2020, whileexports rise just 0.5 percent./.

VNA

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