KASIKORN RESEARCH CENTER has downgraded its Thai economic projection for 2024 to a growth of 2.8%, from its previous forecast of 3.1%. The global economy is expected to grow at the same level as in 2023, with global trade likely to resume and interest rates gradually declining. China's property sector is a challenge, leading to domestic demand and price reductions. The US Federal Reserve is expected to start lowering interest rates in June 2024. Support for the Thai economy in 2024 is expected from government budget disbursements, a 2% growth in merchandise exports, and potential growth in international tourist arrivals. The Bank of Thailand is expected to cut its policy rate twice in 2024. (ICE BANGKOK)

Fonte notizia: The Nation