Briefs

The Fiscal Policy Office has adjusted its growth forecast for Thailand’s gross domestic product to 3.9 per cent for 2015, down from the previous projection of 4.1 per cent.
The FPO said 2014 GDP was expected to post growth of only 0.7 per cent, down from the 1.4-per-cent forecast made in October. GDP grew by 2.9 per cent in 2013.
FPO director-general Kritsada Jinavijarana said the growth forecast had been lowered continuously last year. After growth was forecast at 4 per cent at the beginning of 2014, it was cut to 2.6 per cent in March, and to 1.4 per cent in October.
In December, growth was unofficially targeted at only 1 per cent.
The key factors behind the downward revisions were exports, which declined, along with the slow recovery of the world economy, as well as the lower confidence of tourists due to the political unrest in the country in the first half of the year.

BOT POSTS $5.5 BN IN ACCOUNT SURPLUS
The Bank of Thailand has revealed a current-account surplus of more than US$5.5 billion (Bt180 billion) due to the decline in oil prices, which has lowered the country’s import bill. The development could lead to the appreciation of the baht.
The BOT’s director of macroeconomic policy, Don Nakornthab, said the decline in the price of oil had lowered the value of imports, which also had a positive effect on the country’s trade balance and current account.
Thailand’s imports were valued at $15 billion in December, down 7.9 per cent year on year.
Meanwhile, export value recorded $18.6 billion last month, leaving the country with a $3.6-billion trade surplus.
Don said the current-account surplus would be one of the factors encouraging the appreciation of the baht, as it would have some effects on capital flows. The current-account situation would be one of the criteria considered by foreign investors when evaluating Thailand’s economic situation.

4G SERVICE IN CHIANG MAI
Total Access Communication (DTAC) has launched its fourth-generation wireless broadband service in Chiang Mai, the economic centre of Thailand’s North.
DTAC is planning to expand 4G coverage to key business and tourism centres in the upper Northern region, including Chiang Rai city and that province’s Mae Sai border checkpoint, and the lower Northern region, including Nakhon Sawan and Phitsanulok, and the Mae Sot border point in Tak.