Thailand Sees Weaker Growth, Higher Inflation on Mideast Crisis

Thailand expects the Middle East conflict to weaken economic growth and fuel inflation, underscoring the need for more fiscal support to shield consumers and businesses from a worsening energy crisis.

The Finance Ministry slashed its growth estimate for this year to 1.6% from the 2% it predicted in January, as officials sharply raised the forecast for crude oil prices to $91 per barrel from $57.5.