webfact Posted April 1, 2016 Share Posted April 1, 2016 Central Bank adjusts growth projection down to 3.1 percentBANGKOK: -- 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 Link to comment Share on other sites More sharing options...
thesetat2013 Posted April 1, 2016 Share Posted April 1, 2016 It's not even mid year yet. I expect it will drop a lot more before the end of the year. Link to comment Share on other sites More sharing options...
BigBadGeordie Posted April 1, 2016 Share Posted April 1, 2016 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. Link to comment Share on other sites More sharing options...
thesetat2013 Posted April 1, 2016 Share Posted April 1, 2016 Still! It will be dropped even more Link to comment Share on other sites More sharing options...
Hawk Posted April 1, 2016 Share Posted April 1, 2016 International economists say 0%, maybe 1% growth. I believe them because this government and its associates tell too many lies. Link to comment Share on other sites More sharing options...
Srikcir Posted April 1, 2016 Share Posted April 1, 2016 BOT is ready to take action through monetary policy in response to any negative development RATE CUT ! Link to comment Share on other sites More sharing options...
sawadee1947 Posted April 2, 2016 Share Posted April 2, 2016 what a dreamer Link to comment Share on other sites More sharing options...
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