World Bank forecasts Thailand’s economic growth to rise 3.8% this year

According to the World Bank’s economic analysis report for April 2019, Thailand’s economic growth is forecast to slow down and rise 3.8% this year and 3.9% next year, compared to 4.1% last year. So are the economic growths of Vietnam, the Philippines, Laos, Mongolia, Cambodia and Myanmar largely depending on major infrastructural investment projects.

Due to high inflation and slowdowns in its export sector, China’s economic growth is forecast to remain stable and rise 6% during 2019 and 2020, compared to 6.3% last year.

Kiatiphong Ariyapratchaya, a senior economist attached to the World Bank’s Thailand branch, forecast Thailand’s economic growth to be considerably affected by slowdowns in export sector but still better than the last few years while domestic consumption and investment will be a mjaor force behind future economic growths.

However, Mr. Kiatiphong said, such forecasts do not take risks in political sector into account . He said the delayed formation of a post-election government will affect new investment projects of the public sector and the confidence of the private sector by 2021.