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Oil price spike forecast to slash Thai GDP growth
Bangkok Post
|March 18, 2026
War to last longer than anticipated
Every US$10 increase in the oil price per barrel is expected to reduce Thai GDP by 0.2 percentage points, according to caretaker finance minister Ekniti Nitithanprapas.
Speaking after an urgent meeting of Finance Ministry executives to assess the impact of the Middle Eastern conflict on the Thai economy, Mr Ekniti said the National Economic and Social Development Council (NESDC) reported its assessment of the war, predicting the conflict is likely to last longer than one month, exceeding earlier expectations.
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