The government's planning unit has downgraded its economic growth forecast to 2.7-3.7% for this year from 3-4% estimated in November last year, largely attributed to the global slowdown and declining exports.
According to Danucha Pichayanan, secretary-general of the National Economic and Social Development Council (NESDC), the export value of goods in US dollar terms is anticipated to decrease by 1.6% this year, compared with 5.5% growth in 2022, a downward revision from 1% growth in the November estimate.
