InfoQuest (May 17, 2019) --The Center for International Trade Studies at the University of the Thai Chamber of Commerce (UTCC) reduced its GDP growth forecast to 3.5 percent from 3.8 percent and export growth forecast to 0.5 percent from 3.9 percent. The major negative factors include a likely prolonged trade war between the United States and China, the fluctuation of the Thai baht due to the instability of the global economy, and the uncertainty of the political situation in Thailand that may affect the confidence of foreign investors.
However, Thai economy will also see some positive signs this year. A new cabinet will come into office. Public and private investment is gradually improved and tourism has witnessed a rebound. Meanwhile, central banks around the world have slowed down to increase their policy interest rate.
Source: InfoQuest, by Kasamarporn Kittisamphan / Rachada / Wilawan, translated by Xinhua Silk Road
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