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GDP of Thailand to Fall by 7-9%: JSCCIB

BANGKOK, Aug 5 (TNA) — The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) expected the gross domestic product this year would fall by 7-9% from last year due to poor tourism and exports.

Representing the committee, Kalin Sarasin, chairman of the Board of Trade of Thailand, said the expected contraction was revised downwards from 5-8%. The committee also predicted exports would drop by 10-12% instead of 7-10% this year.

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