BANGKOK, Nov 19 (TNA) – A leading Thai commercial bank
slashes its forecast for the country’s economic growth this year from 2.8 to
2.5 percent, due to the continuing slumps in export and private spending.
Siam Commercial Bank’s Economic Intelligence Center (EIC)
announced on Tuesday that it has revised its economic growth forecast,
reflecting the economic woes largely as a result of the trade war between the
United States and China.
Although the government had implemented stimulus measures
the effects remained nominal, EIC executives said in a press conference.
The country’s exports will continue its downward trend in
the fourth quarter and result in a 2.6 percent growth in that period, the EIC
predicts.
The EIC expects Thailand’s GDP to grow 2.8 percent amid slow
private sector investment.
On Monday, the National Economic and Social Development
Council lowered its 2019 GDP estimate to 2.6%, down from 2.7-3.2% forecast in
August. (TNA)
