Thailand Cuts 2026 Econ Growth Forecast to 1.6%, Inflation May Reach Upper End of Target Range
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The Thai government has revised its 2026 economic growth forecast down to 1.6% from 2%, citing the impact of the Middle East conflict on growth and inflation. The crude oil price forecast has been raised significantly, contributing to an expected average inflation rate of 3%, at the upper end of the central bank's target. The Thai baht has declined by 0.7% against the USD, with a cumulative drop of over 4% since the Iran war began. Additionally, foreign tourist arrivals are projected to be lower than previously expected due to decreased visitors from the Middle East and Europe.
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