Thailand's economy is expected to grow by 1.6% to 2.0% this year, a leading business group said on Wednesday, maintaining its earlier forecast.
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) also maintained its forecast that exports, a key driver of Thai growth, would rise by 8% to 10% this year.
Southeast Asia's second-largest economy, which has lagged regional peers since the coronavirus 2019 (Covid-19) pandemic, expanded 2.4% last year.
The Ministry of Finance on Monday said that geopolitical tensions are disrupting global supply chains, raising production costs and slowing Thailand's growth. The Thai Industries Sentiment Index fell to 84.7 in May from 85.3 in April, as firms grew more worried about a domestic slowdown and higher costs.
Last week, the Bank of Thailand (BoT) upgraded its GDP growth forecast for 2026 to 2.3% from 1.5%, attributed to strong exports, government stimulus and easing geopolitical tensions in the Middle East.
