Thailand to lower 2023 growth forecast after weak Q3
Reuters
Published Nov 27, 2023 03:15AM ET
Updated Nov 27, 2023 03:32AM ET
BANGKOK (Reuters) - Thailand's previous 2023 economic growth forecast of 2.7% will be lowered after a weaker-than-expected third quarter, Deputy Finance Minister Krisada Chinavicharana said on Monday.
Southeast Asia's second-largest economy expanded much slower than expected, at 1.5%, in the July-September quarter from a year earlier, the slowest this year, due to declining exports and government spending.
For next year, while the ministry is aiming for economic growth of slightly higher than 3%, it will try to push for even more with upcoming government stimulus measures, he told reporters.
The finance ministry's current forecasts are for 2.7% economic growth in 2023 and 3.2% growth in 2024.
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Written By: Reuters
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