Kasikorn Bank forecasted the nation's growth rate this year will grow by 4.0-4.5%

The Kasikorn Research Center (KRC) has reduced the national economic growth rate for this year from 4-5%to 4-4.5%.

The KRC has indicated that Thailand’s growth rate in the first half of this year will grow by 4.5-4.7% due to the increase in the figures of export, but the center shows that the growth rate in the second half of this year will slow down by 3.5-4%. He said that the average growth rate will be around 4-4.5%.

As for the economy of next year, the KRC has refused to give its details as it wants to consider the political situations such as the government’s implementation on the mega-projects. However, the center has also forecasted that the export figures will decrease following the global economic trends.

Source: Thai National News Bureau Public Relations Department - 01 June 2006

Seems like every month these forecasts drop another 0.5%. At this rate we could be down to about 1% by Christmas...

With inflation rate at about 4%, looks like zero growth.