Citibank has downgraded its 2022 forecast for Thai economic growth to 3.5%, from 3.6%, with next year's GDP predicted to expand by 4.5%, a fall from 4.8%.
Citibank recommends diversifying investments to handle market volatility and increasing interest rates when the global economy continues to face challenges, with ongoing inflation, pressure from oil prices, and supply chain imbalance.
More economists expect the interest rate liftoff by the Bangko Sentral ng Pilipinas to kick off this week after the economy delivered a solid gross domestic product growth performance in the first quarter.
American banking giant Citi is still expecting some downside risks from higher commodity costs and global slowdown despite the stronger-than-expected 8.3 percent gross domestic product growth in the first quarter of the year.