The IMF has revised Thailand’s economic growth rate for this year and 2024 downwards due to global uncertainties, such as China’s economic slowdown and conflicts between Israel and Palestine. Here are the key takeaways:
- Global economic uncertainties, including China’s slowdown and conflicts between Israel and Palestine, have led to a decrease in Thailand’s growth rate.
- The Israel-Palestine conflict has resulted in increased global oil prices, which could potentially impact the global economy and lead to higher inflation worldwide.
- Thailand’s inflation rate remains relatively low compared to other ASEAN countries, thanks in part to government assistance programs and decreasing food prices in the region.
- The report highlights that Thailand’s inflation rate remains low compared to other ASEAN countries, partly because of government assistance programs and decreasing food prices in neighboring nations.
- The IMF’s director of research warns that the Israel-Palestine conflict could cause a 10% surge in oil prices, impacting the global economy and causing inflation to rise worldwide.
- The growth rate for this year has been revised down from 3.4% to 2.7%, and from 3.6% to 3.2% for 2024, due to global economic uncertainties, including China’s economic slowdown and the conflict between Israel and Palestine.
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SOURCE: thailand-business-news.com
