- The World Bank projects Thailand's real economic growth this year at 3.5 per cent, being among the countries with lowest growth rate in Asia Pacific.
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- In the "Global Economic Prospects" report released today, the World Bank forecasts 4 per cent growth rate in 2016 and 2017, on the assumption that oil prices remain low and the recovery in high-income economies strengthens.
- For this year, it expects slight growth in exports, while domestic demand will remain weak despite increased social stability.
- The region will be affected by a weaker-than-expected recovery in high-income countries, especially in the United States, the Euro Area, Japan, and the Newly Industrialised Economies as this will weaken global and regional trade and impair the region's exports. High-income country exports account for about 60 per cent (Thailand) to 90 per cent of the region's exports.
- The report noted that fiscal support may be appropriate in the short-term to boost the Thai economy.