Bank of Thailand revises up growth rate from 3.2 to 3.4 percent this year

[webfact]

Central bank revises up growth rate from 3.2 to 3.4 percent this year

 

 

BANGKOK: -- The Bank of Thailand has revised up the 2017 economic growth rate from 3.2 to 3.4 percent, thanks to export recovery and tourism expansion.

 

BoT assistant governor for monetary policy Mr Chaturong Chantharang told a press conference on Wednesday that the Monetary Policy Committee had reassessed the economic performance this year and agreed to revise up the economic growth rate from 3.2 to 3.4 percent due to improved exports which are expected to grow up to 2.2 percent from zero growth.

 

Growth rate for next year was forecasted at 3.6 percent.

 

Tourism sector is also improving with the number of tourist arrivals expected to increase by an addition of 400,000 from 34.1 million to 34.5 million for the entire year, he said.

 

The MPC also resolved unanimously to retain policy rate at 1.5 percent for the 15th time citing low inflationary pressure which necessitates the retention of moderate monetary policy and the application of suitable policy tools to support economic growth.

 

Full story: http://englishnews.thaipbs.or.th/central-bank-revises-growth-rate-3-2-3-4-percent-year/

 

-- © Copyright Thai PBS 2017-03-30

[Srikcir]

6 hours ago, webfact said:

the Monetary Policy Committee had reassessed the economic performance this year and agreed to revise up the economic growth rate from 3.2 to 3.4 percent

Which is actually a downward revision when compared to The Joint Standing Committee on Commerce, Industry and Banking growth forecast for Thailand at 3.5 - 4% this year. 
http://thainews.prd.go.th/website_en/news/news_detail/WNECO6003070010008

 

[idman]

Growth rate in Thailand???? That's a good one. Reading the latest from Bloomberg concerning the economy in Thailand it's not a question of it but when the house of cards crumbles. These Bozos at the Bank of Thailand come out with this twaddle in the hope that people will buy it and they look like geniuses.

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[Foghorn Leghorn]

Here are the actual Thailand GDP growth rates. ThaiVisa economists can make of it what they like when comparing to the TAT style announcement by the BoT. 

http://www.tradingeconomics.com/thailand/gdp-growth

[Foghorn Leghorn]

23 minutes ago, idman said:

Growth rate in Thailand???? That's a good one. Reading the latest from Bloomberg concerning the economy in Thailand it's not a question of it but when the house of cards crumbles. These Bozos at the Bank of Thailand come out with this twaddle in the hope that people will buy it and they look like geniuses.

Sent from my SM-T805 using Thailand Forum - Thaivisa mobile app
 

All will be revealed when the government has to stump up the money for the deposit on the submarines. If there is not enough money in the piggy bank for their beloved toys then it is certain things are looking grim.

[whoareyou]

Growth rate in Thailand???? That's a good one. Reading the latest from Bloomberg concerning the economy in Thailand it's not a question of it but when the house of cards crumbles. These Bozos at the Bank of Thailand come out with this twaddle in the hope that people will buy it and they look like geniuses.

Sent from my SM-T805 using Thailand Forum - Thaivisa mobile app

That's odd. Bloomberg recently released an article and there is a thread on it, praising bangkok as as an investors haven