Economics
Thai Finance Ministry Cuts GDP Growth Outlook on Virus Wave
- Estimate of 2021 tourist arrivals lowered again, to 2 million
- Ministry cites ‘dramatic’ change in outlook amid new outbreak
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Thailand’s Finance Ministry cut its economic growth forecast for the second time this year as the country grapples with its biggest virus outbreak since the pandemic began.
The ministry now expects gross domestic product to grow to 2.3% this year, Kulaya Tantitemit, head of the Fiscal Policy Office, said Thursday. In January the ministry had lowered its forecast to 2.8%, from the 4.5% initially expected.