InfoQuest (August 20, 2019) -- The Thai economic growth is expected to slow down to 3 percent in 2019 (target framework of 2.8-3.2 percent) from 4.1 percent in 2018, and the export growth will contract by 0.9 percent (target framework of minus 1.1 to minus 0.7 percent), according to the forecasts of the Fiscal Policy Office (FPO) of Thailand's Ministry of Finance (MOF). This sluggishness is largely attributed to the weakening external demand as the economies of trading partners are slowing down and the world trade volume is on decrease, but the U.S.-China trade war and the trade barrier measures introduced by many countries are also among the contributing factors.
The positive is that the economy is holding up well so far on the whole. Internally, the overall inflation is expected to be 1 percent (target framework of 0.8-1.2 percent), lower than the previous year, mainly due to the falling crude oil prices in the world market. Externally, the current account surplus is anticipated to be 33.3 billion U.S. dollars, accounting for 6.1 percent of national GDP.
Source: InfoQuest, by Khara/ Kasamarporn / Sasithorn, translated by Xinhua Silk Road Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
