Thailand cuts GDP outlook

BANGKOK: Thailand lowered its 2021 economic growth forecast to 1.5 per cent to 2.5 per cent as it is facing an uphill battle against third wave of COVID-19.

The tourism-reliant kingdom had previously forecast growth of between 2.5 and 3.5 per cent in February after it shrank 6.1 per cent last year, the deepest slump in more than two decades.