Thailand cuts GDP growth outlook as exports weaken

BANGKOK: Thailand's finance ministry has lowered its 2023 economic growth outlook to 3.6% from 3.8% projected earlier, on expectations of a fall in exports as global demand weakens, officials said on Tuesday.

Exports, a key driver of Thai growth, are expected to drop 0.5% this year, compared with a previous forecast for a 0.4% rise, Pornchai Thiraveja, head of the ministry's fiscal policy office, told a briefing.