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Thai economy's growth weakest since 2014 as trade war, baht bite

Thailand’s trade-reliant economy has been hit by slumping exports, a surging currency and cooling tourist arrivals, with a looming delay in the budget after a new government took office last month posing a further risk.

19.8.2019

Thailand’s trade-reliant economy has been hit by slumping exports, a surging currency and cooling tourist arrivals, with a looming delay in the budget after a new government took office last month posing a further risk. FMTNews

Thailand’s trade-reliant economy has been hit by slumping exports, a surging currency and cooling tourist arrivals, with a looming delay in the budget after a new government took office last month posing a further risk.

The forecast for exports was cut to a 1.2% contraction, from previous estimates of 2.2% growth.

Gareth Leather, senior Asia economist at Capital Economics, said the expansion could slow to 2.5% this year.

GDP rose a seasonally adjusted 0.6% in the second quarter compared with the previous three months, the council said, below the 0.7% median estimate in a Bloomberg survey.

The cabinet is scheduled to meet Tuesday to discuss the government’s 316 billion baht (US$10.2 billion) stimulus proposal announced last week. Thosaporn said Monday that additional stimulus is also possible, including steps that focus on boosting private investment and tourism.

Read more: Free Malaysia Today

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