Business groups see GDP contracting 3%-5% this year
Thailand’s economy may shrink 3%-5% this year, sharply down from growth of 1.5%-2.0% projected in March, as the coronavirus pandemic hits global demand and domestic activity, a group of leading business associations said on Thursday.
The group also cut its forecast for 2020 exports, a key growth driver, to a fall of 5%-10%, from zero growth to a 2% drop, according to a joint standing committee on commerce, industry and banking.
