BoT maintains Thailand's 2014 GDP growth forecast at 1.5 per cent

[webfact]

BoT maintains Thailand's 2014 GDP growth forecast at 1.5 per cent
By Digital Content



BANGKOK, Sept 29 -- The Bank of Thailand (BoT) has renewed its GDP growth forecast for Thailand at 1.5 per cent this year, but has revised the anticipated growth rate for next year downward to 4.8 per cent as exports and tourism have not recovered.

BOT Assistant Governor for Monetary Policies Mathee Supapongse said the central bank maintained its forecast of the Thai economic growth rate at 1.5 per cent this year and is reducing the anticipated rate for next year from 5.5 per cent to 4.8 per cent.

The prediction does not include possible government issued economic stimulus measures.

The economic growth prediction is revised downwards because the country's export recovery has been delayed.

This year Thai exports may not increase at all.

Earlier the BoT expected exports to rise 3 per cent this year. The central bank said Thai exports should expand by 4 per cent next year instead of the earlier anticipated 6 per cent.

Mr Mathee also said that tourism was slowly recovering as many countries maintained their travel advisories about Thailand.

Consequently the number of visitors to Thailand will be 27 million this year instead of the earlier estimated number of 28.5 million.

Positive factors next year will be household consumption, investment in the private sector and accelerated spending by the government.

Pridiyathorn Devakula, deputy prime minister supervising economic affairs, said that the Thai economy might grow by only 3-4 per cent next year and that the government must increase domestic consumption and promote exports. (MCOT online news)


-- TNA 2014-09-29

[tullynagardy]

Pridiyathorn Devakula, deputy prime minister supervising economic affairs, said that the Thai economy might grow by only 3-4 per cent next year and that the government must increase domestic consumption. (MCOT online news)

More clueless nonsense from this lot.

Household debt is already sky high and rising, disposable incomes are being slashed by inflation and stagnant economic growth. How exactly do you encourage more domestic consumption without increasing household debt?

It also doesn`t even mention the election that is meant to happen next year, do they know something we don`t? The other thing that is likely to happen next year and plunge the place into chaos is more understandable in its absence.

[JOC]

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It also doesn`t even mention the election that is meant to happen next year, do they know something we don`t? The other thing that is likely to happen next year and plunge the place into chaos is more understandable in its absence.

Like your way with words! You said it, without actually saying it!

[rickirs]

BOT's predictions on GDP growth is like a Monday armchair quarterback predicting last Sunday's game results. It's never wrong, no matter how often it has to adjust its predictions to fit actual results.

[Ozziepat]

Uh, doesn't fiscal 2014 in Thailand end September 30? What is this 2014 "forecast" of which they speak?