Economics
Thailand Cuts Growth Forecast as Coronavirus Hits Tourism
- Government sees growth in range of 1.5%-2.5% this year
- Growth already under strain because of budget delays, drought
A motorcyclist wearing a protective mask travels through a market in the Chinatown district of Bangkok.
Photographer: Andre Malerba/BloombergThis article is for subscribers only.
Thailand lowered its growth outlook for this year as its tourism-reliant economy takes a knock from the spread of the coronavirus.
Growth is seen in a range of 1.5%-2.5% this year, down from a previous projection of 2.7%-3.7%, the National Economic and Social Development Council said on Monday. Gross domestic product grew 2.4% in 2019, the slowest pace in five years.