NESDB revises Thai GDP growth forecast to 1.5-2 percent this year

[webfact]

NESDB revises Thai GDP growth forecast to 1.5-2 per cent this year
By Digital Content



BANGKOK, Aug 18 -- The Office of the National Economic and Social Development Board (NESDB) revises its forecast of Thai economic growth this year to 1.5-2 per cent due to the economic recession in the first half of this year, recognizing that export growth is lower than expected.

NESDB Secretary-General Arkhom Termpittayapaisith said the forecast economic growth was revised downward from 1.5-2.5 per cent as the national economy shrank by 0.1 per cent in the first half of this year.

In the first quarter of this year the economy declined by 0.5 per cent and in the second quarter it expanded by 0.4 per cent.

He attributed the recession to political problems in the first five months of this year.

The Office of the NESDB also revised its forecast of Thai export growth from 3.7 per cent to 2 per cent this year because of delayed global economic recovery.

The office stated that national economic growth in the second half of this year would be limited by the slow global economic recovery, the delay in tourism recovery, delayed investment and a decline in automotive production and sales.

The NESDB predicts that the Thai economy will grow by 3.5-4.5 per cent next year or even 5-6 if both the government and the private sector enhance their efficiency. (MCOT online news)


-- TNA 2014-08-19

[terryp]

wow at this rate they are going to out perform China...keep on dreaming never let the facts get in the way of PR

[jonclark]

And next week a new prediction, and then another, and then another ad infinitum

[khwaibah]

Taking lessons from TAT.

[shirtless]

It was only last week i heard car manufacturing was on the rise, so where are some real figures.

[retarius]

Take note of the growth forecast for next year of 3.5 to 4.5 %. Not a chance in hell of achieving those numbers.

[godden]

Are TAT involved in these figures.