BANGKOK: Thailand’s finance ministry cut its 2020 economic growth forecast to 2.8% from 3.3% it projected three months, mainly due to weaker exports.
The ministry downgraded its 2020 estimate for exports, a key driver of growth, to a rise of just 1% from an earlier 2.6% increase, Lavaron Sangsnit, head of the finance ministry’s fiscal policy office, told a news conference.
For 2019, the ministry estimated growth of 2.5%, a five-year low, sharply slowing from 2018’s 4.1% growth.
Official 2019 gross domestic product (GDP) data is due on Feb. 17. -Reuters
source https://www.thesundaily.my/business/thai-finance-ministry-cuts-2020-gdp-growth-forecast-to-28-CH1944051
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