Thailand to lower 2023 growth forecast after weak Q3 By Reuters

BANGKOK (Reuters) – Thailand’s previous 2023 economic growth forecast of 2.7% will be lowered after a weaker-than-expected third quarter, Deputy Finance Minister Krisada Chinavicharana said on Monday.

Southeast Asia’s second-largest economy expanded much slower than expected, at 1.5%, in the July-September quarter from a year earlier, the slowest this year, due to declining exports and government spending.

For next year, while the ministry is aiming for economic growth of slightly higher than 3%, it will try to push for even more with upcoming government stimulus measures, he told reporters.

The finance ministry’s current forecasts are for 2.7% economic growth in 2023 and 3.2% growth in 2024.