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Bangkok Post

Business

Thai growth rate to take big hit from Russia-Ukraine war

Russia Ukraine United States KResearch Thailand

This general view taken on Thursday shows fire and smoke lights up the sky, east of Kharkiv, Ukraine. (AFP photo)

Kasikorn Research Center (K-Research) has slashed its forecast for Thai economic growth this year to 2.5%, mainly as a result of the Russia-Ukraine war.

The centre's base case scenario sees the war continuing in some areas, with possible negotiations between the two countries. K-Research forecasts Thailand’s 2022 GDP growth rate to be 2.5% in this scenario, declining from the previous projection of 3.7%.

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