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Thailand Business Group Raises 2026 GDP Forecast, Warns of Energy Risks

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Thailand's Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) raised its 2026 GDP growth forecast to a range of 2.1% to 2.5% from 1.6% to 2%, citing stronger-than-expected exports and private investment, according to a Wednesday release.

The business group also raised its export growth forecast to 12% to 16%, compared with 8% to 10% previously, while keeping its inflation forecast steady in the range of 2.5% to 3%.

However, the JSCCIB warned that renewed Middle East conflict has pushed crude oil prices to about $95 a barrel in early September from $84 in July. The group urged the government to ease oil export restrictions to ease pressure on domestic refiners and supply chains.

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