October 10, 2019 / 5:00 AM / a month ago

Thailand not in recession, just growing below potential: central bank governor

Thailand's Central Bank Governor Veerathai Santiprabhob speaks during an interview with Reuters at the Bank of Thailand in Bangkok, Thailand, October 4, 2019. REUTERS/Matthew Tostevin/File Photo

BANGKOK (Reuters) - Thailand’s economy is not experiencing recession but is growing slowly and below potential, central bank chief Veerathai Santiprabhob told reporters and analysts on Thursday, adding that the country also faced structural issues.

Last month, the central bank cut its 2019 economic growth forecast to 2.8% from 3.3%, as exports weakened amid rising global trade tension. Last year’s growth was 4.1%.

Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Clarence Fernandez

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