Bank of Thailand: Middle East war will dent Thai GDPBank of Thailand governor Vitai Ratanakorn. The new war in the Middle East could dent gross domestic product (GDP) by 0.1-0.15 percentage points due to the heightened risk to oil supply, according to Bank of Thailand governor Vitai Ratanakorn. The risk is that the war in the Middle East could affect the Thai economy more severely than previously estimated,” said Mr Vitai. The oil price had already increased by US$5-7 per barrel due to the Middle East war, he said. An average annual increase of $10 per barrel is expected to shave 0.1-0.15% off Thai GDP,” said Mr Vitai.

Source: Bangkok Post March 03, 2026 16:23 UTC