InfoQuest (February 17, 2020) -- The Office of the National Economic and Social Development Council (NESDC) revealed that Thailand's GDP grew by 1.6 percent in the fourth quarter of 2019 and the economy in 2019 grew by 2.4 percent. The deceleration is a consequence of both external and internal impacts, including the trade war, slowing exports, a delayed budget for fiscal year 2020, drought, and appreciation of the Thai baht.
The NESDC also adjusted down its growth estimate for 2020 from 2.7-3.7 percent to 1.5-2.5 percent. Major factors include the outbreak of the COVID-19, drought, and a delayed budget for fiscal year 2020.
Source: InfoQuest, by Kasamarporn Kittisamphan/ Rachada, translated by Xinhua Silk Road
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