World Bank cuts Thailand’s growth forecast, calls for green manufacturing pivot

Manufacturing is key to Thailand’s economy, and green manufacturing can help boost growth. (Photo: iStock)

With Thailand’s election results finalized, the passage of the government budget is now expected to proceed on schedule. The World Bank, however, says structural bottlenecks remain unresolved and has downgraded its growth forecast for Thailand this year to 1.6%.

The lender recommends prioritizing solar equipment, electric vehicles and other green industries, describing low-carbon manufacturing as “a promising pathway to reinvigorate the economy.”