BOT lowers GDP growth forecast to under 3 per cent
Play
The worse-than-expected performance of the export sector has prompted the Bank of Thailand (BOT) to revise downward its GDP growth forecast for 2015 to less than 3 per cent, Roong Mallikamas, senior director of Macroeconomic and Monetary Policy Department
In the first six months of this year, export shipments, which account for 70 per cent of Thailand’s GDP, contracted 4.84 per cent year on year, while the Federation of Thai Industries (FTI) said the expected improvement of the export sector in the second half of 2015 would not compensate for the shortfall in the first half.
