Central Bank adjusts growth projection down to 3.1 percent



BANGKOK: -- The central bank has revised the country's economic growth projection this year down from 3.5 to 3.1 percent.

Slower economic recovery and shrinking export are reasons for the lower adjustment.

Bank of Thailand (BOT) assistant governor for monetary policy group Jaturong Jantarangs, also secretary to the bank’s monetary policy committee, said that the committee has adjusted its forecast for the economy this year down from 3.5 percent to 3.1 percent since it views that the economic recovery has been slower than expected.

The committee has also cut its forecast for the export this year from 0 percent to a 2 percent contraction, he said.

He said the country’s competiveness has decreased and the slow export recovery has affected the country’s consumption and investment.

He reasoned that the country’s troubled export stemmed from structural problems, which would require more time to solve.

He said the country needs to accelerate investment, especially private investment, to achieve 3.5-4% growth this year.

The monetary committee is closely monitoring the global and the Chinese economic conditions and is ready to take action through monetary policy in response to any negative development, he added.

Source: http://englishnews.thaipbs.or.th/content/157833

-- Thai PBS 2016-04-01

It's not even mid year yet. I expect it will drop a lot more before the end of the year.

It's not even mid year yet. I expect it will drop a lot more before the end of the year.

The fiscal year in Thailand runs from 1 October to 30 Sept the following calander year. So we are now at mid year.

Still! It will be dropped even more

International economists say 0%, maybe 1% growth. I believe them because this government and its associates tell too many lies.

BOT is ready to take action through monetary policy in response to any negative development

RATE CUT !

what a dreamer