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Thailand continues revising down growth forecast for 2019

Thailand’s Monetary Policy Committee (MPC) has reduced its economic growth forecast for the country from 3.3 percent to 2.8 percent in 2019 and from 3.7 percent to 3.3 percent in the next year.
Thailand continues revising down growth forecast for 2019 ảnh 1A view of Bangkok, the capital city of Thailand (Source: oneyoungworld.com)

Bangkok (VNA) – Thailand’sMonetary Policy Committee (MPC) has reduced its economic growth forecast forthe country from 3.3 percent to 2.8 percent in 2019 and from 3.7 percent to 3.3percent in the next year.

This is the fourth time the committee hasrevised Thailand's GDP growth forecast for 2019. In 2018, MPC estimated growthat 4.2 percent, then adjusted down to 3.8 percent, 3.3 percent and 2.8 percentrespectively, a total 1.4 percentage point decrease from the original estimate.

Local media on September 26 quoted secretary ofthe MPC Titanun Mallikamas as saying the latest decision of MPC was based onthe fact that the country’s economy is growing at a slower rate than expected,especially in the export sector.

Foreign trade disputes as well as the decline intourism, rising household debt and natural disasters also affected Thailand’seconomic growth, he said.

Earlier, the Asian Development Bank (ADB) had loweredits projection for Thailand’s economic growth in 2019 to 3 percent from 3.9percent./.


VNA
# Thailand’s Monetary Policy Committee (MPC)#economic growth forecast#GDP#secretary of the MPC Titanun Mallikamas#export#foreign trade disputes#tourism#household debt#natural disasters#Asian Development Bank (ADB)#Vietnamplus#Vietnam News Agency
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