JSCCIB Upgrades 2020 Economic Outlook to Contract 6%, Expecting 2-4% Expansion in 2021

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has upgraded Thai economic outlook in 2020 from a contraction of 8.00% – 7.00% to 7.00% – 6.00%, while headline inflation is expected to decline 1.0% to 0.9%.

Meanwhile, the group estimated 2021 GDP to expand 2.0% to 4.0%. Exports to expand 3.0% to 5.0% and headline inflation to be between 0.8% to 1.2%.