UTCC trims 2020 growthThe Yom River is dry due to widespread drought in Phichit provinces. In December, the university forecast 2020 economic growth would average 3.1%, in a range of 2.7-3.6%. The university also lowered the export growth forecast to 0.8%, down from 1.8%, with the baht averaging 29.5-31 to the US dollar, down from 29.75-31.25 baht. UTCC predicts 2020 global GDP growth at 2.5%, down from 2.7%. "Droughts are expected to cause 10 billion baht in damages to farm crops.

Source: Bangkok Post January 13, 2020 11:26 UTC