NESDC Cuts 2020 GDP Growth Forecast to 1.5 – 2.5%

Office of the National Economics and Social Development Council (NESDC) made a statement in regard to Thailand’s Gross Domestic Product or GDP growth which showed that the Thai economy on the fourth quarter of 2019 grew 1.6% while the 2019 yearly outlook rose 2.4%. 

NESDC has cut down Thailand 2020’s GDP growth from 2.7 – 3.7% to 1.5 – 2.5%. Thailand’s economic slowdown resulted by both external and internal factors which including trade war and a declined in exportation. Together affected by the delay in Budget bill, the coronavirus outbreak, drought and Baht appreciation which is expected to become a risk factor.