UTCC lowers Thai economic growth projection for 2014

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UTCC lowers Thai economic growth projection for 2014
By Digital Content



BANGKOK, Sept 1 -- The University of Thai Chamber of Commerce Center for Economic and Business Forecasting has lowered its projection for Thailand’s economic growth this year to between 1.5 and 2 per cent from 2 – 2.5 per cent.

Director Thanawat Polvichai said on Saturday that the reduction is associated with sluggish growth of the country’s exports amid slow global economic recovery.

Dr Thanawat said the center has also lowered its projection for Thailand’s exports this year to 1 – 1.5 per cent from 1.8 per cent.

He urged the new government to accelerate its budget spending, to shore up agricultural product prices, and stimulate tourism in order to speed up economic recovery in the short term.

Rubber prices should stay above 60 baht a kilogramme and rice at between 8,500 to 9,000 baht per tonne to help boost farmers' purchasing power.

The martial law imposed following the May 22 bloodless coup should be lifted to stimulate the tourism industry in the country, he said.

Dr Thanawat said Thailand’s gross domestic product (GDP) in 2015 is projected to expand between 4-5 per cent while the country’s exports are expected to grow between 5-5.5 per cent due to public investment of Bt300 billion in basic infrastructure.

The new government led by Prime Minister Prayuth Chan-ocha should outline its economic stimulus plan to ensure 5 per cent annual GDP growth for the next 3-5 years, he said, focusing on investment in basic infrastructure, alternative energy projects, cross-border trade promotion, educational reform , and science and technology research. (MCOT online news)


-- TNA 2014-09-01

[NongKhaiKid]

They must have been working hard to come up with this as I believe the Governor of the BOT has already said it a couple of days ago.