Thailand's economy is expected to grow 2.2% to 2.7% this year, down from a previous forecast of 2.8% to 3.3% due to a slow export recovery, a leading joint business group said on Wednesday.

Exports, key driver of the Thai economy, are now projected to increase 0.5% to 1.5% this year compared with a rise of 2% to 3% seen earlier, said the Joint Standing Committee on Commerce, Industry and Banking, which includes representatives from those sectors.

Southeast Asia's second-largest economy grew 1.9% last year, lower than the 2.5% growth in 2022, lagging regional peers as it confronts high household debt and borrowing costs alongside China's slowdown.

(Reporting by Orathai Sriring and Kitiphong Thaichareon; Editing by John Mair)