Joint panel keeps GDP forecast, but upgrades export outlookKalin Sarasin, chairman of the Thai Chamber of Commerce and the Joint Standing Committee on Commerce, Industry and Banking. Thailand's economy is still expected to contract by 7-9% this year, although exports could shrink less than previously projected, because the coronavirus pandemic remains a risk, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said on Wednesday. The committee said it stood by its projection of an economc contraction of 7-9% and inflation to fall 1-1.5% this year. However, exports were expected to drop 8-10%, rather than the 10-12% forecast earlier, after recent improved shipments. Southeast Asia's second-largest economy posted its deepest fall in over two decades in the second quarter as the outbreak hammered the key tourism and export sectors, which accounted for about 60% of GDP last year.

Source: Bangkok Post October 07, 2020 07:41 UTC