Thailand says GDP growth fell in 2023, piling rate cut pressure

South-East Asia’s second-largest economy grew 1.8% last year, down from 2.6% in 2022. — Reuters

BANGKOK: Thailand’s economic recovery lost momentum last year and missed official forecasts, according to government spokesman Chai Wacharonke, potentially piling pressure on the central bank to pivot to early easing.

South-East Asia’s second-largest economy grew 1.8% last year, down from 2.6% in 2022, Chai said yesterday, citing estimates from the Finance Ministry’s Financial Policy Office that is due to be released today.