Thai growth downgraded by Citibank

Pedestrians outside Siam Paragon in Bangkok. Citibank revised its economic growth forecast for Thailand this year down to 3.5%, from 3.6% earlier.  Bloomberg

Citibank has downgraded its 2022 forecast for Thai economic growth to 3.5%, from 3.6%, with next year's GDP predicted to expand by 4.5%, a fall from 4.8%.

Nalin Chutchotitham, investment adviser at Citi Thailand, said the downbeat estimates were due to an expected slowdown in government spending and global growth.