BANGKOK – Thailand’s economy grew 1.6 percent in the fourth quarter of last year, the lowest in over five years, the Office of the National Economic and Social Development Council (NESDC) said on Monday.
Tossaporn Sirisamphan, Secretary-General of the National Economic and Social Development Board (NESDB) said in a press conference that Thailand recorded the slowest economic growth in the period which was previously estimated at 2.6 per cent.
The country’s gross domestic product had been affected by the trade war and exports that declined 4.9 percent, the NESDB Chief said.
Thailand recorded 2.4 percent economic growth in 2019 and the NESDC adjusted down its growth estimate for 2020 from 2.7-3.7 percent to 1.5-2.5 percent.
Other factors causing lower growth forecast included the coronavirus epidemic, drought and fiscal budget delays, Mr.Tossaporn added.
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